When Changing an Accounting Policy,AASB 108 Requires Which of the Following

question 45

Multiple Choice

When changing an accounting policy,AASB 108 requires which of the following to be applied retrospectively?

• A)A voluntary change to improve the relevance of information presented.
• B)A change due to the adoption of a new accounting standard.
• C)A change due to the adoption of a new interpretation.
• D)All of the options are correct.

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Definitions:

Multicellular Organisms

Organisms composed of many cells that are specialized to perform different functions, contributing to the organism's survival and functioning.

Plasmolysis

The process in which cells lose water in a hypertonic solution, causing the plasma membrane to pull away from the cell wall.

Plant Cells

Cells that are the basic structural and functional units of plants, characterized by a cell wall, chloroplasts, and a central vacuole.

Salts

Compounds formed from the ionic bonds between cations and anions, commonly resulting from the neutralization reaction of an acid and a base.