An Entity Can Change Its Accounting Policy

question 10

Multiple Choice

An entity can change its accounting policy:

• A)Never once the decision is made.
• B)Provided it can argue that the new method provides better information for users.
• C)Only with the approval of its auditors.
• D)As often as it likes.

---

Definitions:

Legal

Pertaining to the system of rules that a particular country or community recognizes as regulating the actions of its members and may enforce by the imposition of penalties.

International

Pertaining to or involving two or more nations, often used in the context of global relations, businesses, or agreements.

News Release

An official statement issued to newspapers giving information on a particular matter, aiming to generate positive media coverage.

Subject Line

The title or headline of an email that indicates its content, designed to grab the recipient's attention.