Which statements about the limits of retrospective application are correct?Your answerAAn entity may choose prospective application whenever it finds it simpler.BImpracticability allows the cumulative effect to be recognised in the period's profit.CThe earliest period for which retrospective application is practicable may be the current period.DIf the cumulative effect cannot be determined at the beginning of the current period, the policy is applied prospectively from the earliest date practicable.ERetrospective application remains the rule, except to the extent it is impracticable.SubmitHint