What does an entity actually do when it applies a new accounting policy retrospectively?Your answerAIt adjusts opening equity of the earliest period presented and the other comparative amounts.BIt adjusts only the opening statement of financial position of the current period.CIt recognises the cumulative effect of the change in current period profit.DIt applies the policy only to transactions after the date of the change, without touching the financial statements already published for prior periods.SubmitHint