One Condition Required by IFRS Is That a Voluntary Change

question 49

Multiple Choice

One condition required by IFRS is that a voluntary change in accounting policy must result in information that is

• A) more reliable than before.
• B) more reliable, but equally as relevant as before.
• C) both more reliable and more relevant.
• D) more relevant, but equally as reliable as before.

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Definitions:

Dusk

The time of day immediately following sunset, characterized by diminishing natural light.

Noon

The middle of the day, typically regarded as 12:00 PM, when the Sun is at its highest point in the sky.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in air and absorbed by plants in photosynthesis.

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize foods with carbon dioxide and water.