It Is Important That Disclosure Be Made of the Accounting

Multiple Choice

It is important that disclosure be made of the accounting policies adopted in preparing a financial report:

A) because they have to be disclosed under AASB 108
B) because they can have a significant effect on the items recognised, how they are measured and the disclosure made about them
C) only to the extent that they are material in understanding the financial report
D) even if they are not material, they are necessary to explain the events and transactions of the entity