Which of the following statements does not properly state a basic principle for reporting an accounting change?
A) retrospectively apply a change in accounting principle
B) prospectively account for a change in accounting estimate
C) retrospectively adjust for a change in reporting entity
D) retrospectively apply a change in accounting estimate
D
You might also like to view...
Which of the following would NOT be accounted for as a change in accounting principle?
a. Change from the first-in, first-out method to the last-in, first-out method of inventory pricing b. Change from the last-in, first-out method to the first-in, first-out method of inventory pricing c. Change from completed-contract accounting to percentage-of-completion d. Change from straight-line method to accelerated method of depreciation
An integrated approach to customer service needs to study the total retail experience
Indicate whether the statement is true or false
What organizational factors improve groups’ abilities to be creative?
What will be an ideal response?
A bond is most likely to be called
A) when investors must reinvest at lower rates. B) when the bond sells at a large discount. C) when market yields are close to coupon rates. D) when investors can reinvest at higher rates.