Which of the following is not correct regarding the provisions of IAS No. 8 on accounting changes and error corrections?
a. A change in accounting estimate is reflected in the current and future periods.
b. A change in depreciation method (such as from an accelerated method to the straight-line method) is classified as a change in estimate.
c. A change in depreciation method (such as from accelerated method to the straight-line method) is classified as a change in accounting principle.
d. IAS No. 8 generally reflects a preference for restating prior results to improve comparability of financial statements.
C
You might also like to view...
A marketing manager has decided to "leapfrog" competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as ________
A) flank attack B) encirclement attack C) bypass attack D) guerrilla warfare E) frontal attack
Two common ways of looking at how multinational companies (MNCs) control operations are:
A. choosing whether the enterprise uses simple or complex controls and by determining whether the organization uses financial or strategic controls. B. by looking at the ways in which the organization uses hierarchical and bureaucratic controls and by looking at the ways in which the organization uses external or internal controls. C. determining whether the enterprise chooses to use internal or external control and by looking at the ways in which the organization uses direct and indirect controls. D. determining whether the organization uses accounting or strategic controls and by choosing whether the enterprise uses simple or complex controls.
In 2018, all C Corporations receive a permanent tax cut from 35 percent to 21 percent.
Answer the following statement true (T) or false (F)
Jell-O ads contain the phrase "Make some magic." All Ace Hardware store ads contain the statement "Life is an ongoing project." The American Dairy Farmers run ads that say, "Ahh, the power of cheese." These are all examples of ________.
A. jingles B. slogans C. unique selling propositions (USPs) D. slice-of-life appeals E. testimonials