alleryStart learning →A policy change with no current material effect but a likely later one is disclosed
AWait until it matters
BDisclose in later year
CSkip any disclosure
DDisclose in year adopted
Answer & Solution
Correct answer: D. Disclose in year adopted
If material effects are reasonably expected in later periods, the change is disclosed in the period it is adopted.
Keep practising AS 5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
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