Which of the Following Statements Does Not Properly State a Basic

question 4

Multiple Choice

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

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Definitions:

Autocratic

A leadership style characterized by individual control over all decisions and little input from group members.

Democratic Institutions

Organizations or systems that operate on principles of democracy, allowing equal participation and representation in decision making.

Task-Oriented

Focused on completing tasks and achieving specific goals efficiently and effectively.

People-Oriented

An approach or management style focused on valuing and prioritizing the well-being, development, and engagement of individuals within an organization.