alleryStart learning →The impact of a material policy change is shown in the statements of
AThe earliest year presented
BThe period of the change
CThe following period
DAll earlier periods
Answer & Solution
Correct answer: B. The period of the change
The impact and adjustments are shown in the period in which the change is made.
Keep practising AS 5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
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