Where a Business Makes a Change in an Accounting Policy,it

question 6

Multiple Choice

Where a business makes a change in an accounting policy,it must disclose:

• A) only the nature of the change and the reasons for it
• B) the nature of the change, the reasons for it and the financial effects of the change if it will affect the results of future periods
• C) the nature of the change, the reasons for it and the financial effects of the change if it has affected the current period's results or may affect the results of future periods
• D) the nature of the change, the reasons for it and the financial effects of the change if it has affected the current period's results

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Definitions:

Amino Acids

Organic compounds that combine to form proteins, serving as the building blocks of life with various functions in metabolism.

Renin Secretion

The process by which the kidneys release renin, an enzyme that plays a crucial role in the body's blood pressure regulation and electrolyte balance.

Afferent Arterioles

Small arteries that lead towards the capillaries in the kidneys, playing a key role in regulating blood pressure and filtration rate.

Angiotensin II

A potent vasoconstrictive peptide hormone that plays a crucial role in regulating blood pressure and fluid balance in the body.