Which of the Following Would Be a Reason Where IASB

question 21

Multiple Choice

Which of the following would be a reason where IASB would permit companies to change accounting policy?

• A)The change would allow the company to present a more favorable profit picture.
• B)The change would result in the financial statements providing more reliable and relevant information about a company`s financial position, financial performance, and cash flows.
• C)The change is made by the internal auditor.
• D)The change will be long-term.

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Definitions:

Listening

The active process of receiving, interpreting, and responding to verbal and non-verbal messages.

Personal Distance

The physical space preferred by an individual in social interactions, which can vary significantly between different cultures and personal preferences.

Develop Rapport

The process of building a harmonious and understanding relationship between individuals.

Secrecy

The act or practice of keeping information hidden or confidential, not to be shared or disclosed with unauthorized individuals.