There is significant scope for managers to exercise their judgment in the selection of accounting policies.PAT suggests that accounting policy choices of managers may be influenced by the existence of debt contracts,compensation plans or political costs.How are users made aware of the accounting policies adopted by the reporting entity?

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The Answer of There is significant scope for managers to exercise their judgment in the selection of accounting policies.PAT suggests that accounting policy choices of managers may be influenced by the existence of debt contracts,compensation plans or political costs.How are users made aware of the accounting policies adopted by the reporting entity?

There Is Significant Scope for Managers to Exercise Their Judgment