Which of the following statements is not correct?
a. A change from an inappropriate accounting principle to a proper one should be accounted for as an accounting error.
b. A change from an inappropriate accounting principle to a proper one should be accounted for as a change in accounting principle.
c. A change from an inappropriate accounting principle to a proper one should be accounted for retrospectively.
d. A change from an inappropriate accounting principle to a proper one may require an adjustment to beginning retained earnings for the earliest year reported.
B
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________ serves as the basis for the financial metric known as return on equity
A) Owner's equity B) Customer's equity C) Brand equity D) Value equity E) Retention equity
If bonds with a face value of $205,000 are issued at 110, the amount of cash proceeds is ________.
A) $225,390 B) $205,000 C) $186,364 D) $225,500
In a normal job-order costing system, factory overhead is applied using predetermined rates times actual input
Indicate whether the statement is true or false
To establish a unique brand, INTEGRATED MARKETING COMMUNICATIONS must do all the following EXCEPT ________
A) be aggressive B) use a future-oriented appeal C) be early D) create a distinct personality