IASB Requires Companies to Use Which Method for Reporting Changes

question 38

Multiple Choice

IASB requires companies to use which method for reporting changes in accounting policies?

• A)cumulative effect approach
• B)retrospective approach
• C)prospective approach
• D)averaging approach

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Definitions:

Adoption Studies

Research studies that compare adopted children to their biological and adoptive families to understand the influence of genetic versus environmental factors on development.

Genetics

The study of genes, heredity, and genetic variation in living organisms, explaining how traits are passed from parents to offspring.

Artistic Interest

Artistic interest pertains to a person's attraction or passion towards arts, including appreciation, creation, and involvement in artistic activities.

Genetic Factors

Aspects of an individual's genetic makeup that influence their physical and behavioral traits.