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Recap of Accounting Process

When a change...

Question

When a change in accounting policy is justified?

A

To comply with accounting standard

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B

To ensure more appropriate presentation of the financial statement of the enterprise

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C

to comply with law

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D

All of the above

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Solution

The correct option is D All of the above
A change in accounting policy is justified in the following situation:-
1. To comply with accounting standard
2. To ensure more appropriate presentation of the financial statement of the enterprise
3. To comply with law

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