(a) Accounting policies are specific principles, bases, conventions, rules, and practices applied by an entity in preparing and presenting financial statements.

(b). In the absence of an IFRS that specifically applies to a transaction, other events, or condition, management shall use its judgment in developing and applying an accounting policy that results in information that is:
(i) Relevant to the economic decision-making needs of users; and
(ii) Reliable, in that the financial statements:

• represent faithfully the financial position, financial performance, and cash flows of the entity;
• reflect the economic substance of transactions, other events, and conditions, and not merely the legal form;
• are neutral, i.e., free from bias;
• are prudent; and
• are complete in all material respects.
  In making the judgment, management shall refer to, and consider the applicability of, the following sources in descending order:
• The requirements in IFRS dealing with similar and related issues.
• The definitions, recognition criteria, and measurement concepts for assets, liabilities, income, and expenses in the framework.
  Management may also consider the most recent pronouncements of other standard-setting bodies that use a similar conceptual framework to develop accounting standards, other accounting literature, and accepted industry practices, to the extent that these do not conflict with the sources mentioned above.

(c). The provided document does not contain a specific answer for Question 11c. As per the instructions, I will not generate an answer but note that the answer section for this subpart is missing in the provided answer document. For completeness, the question is rendered as requested, but no answer is available to include.