Which Statement Concerning Accounting for Accounting Changes and Errors Is

question 56

Multiple Choice

Which statement concerning accounting for accounting changes and errors is not true?

• A)An error is accounted for retrospectively.
• B)A change in accounting principle is accounted for prospectively.
• C)A change in accounting principle may be accounted for retrospectively.
• D)A change in accounting estimate is accounted for prospectively.

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Definitions:

Lens

A transparent structure in the eye that focuses light that enters the eye onto the retina, enabling visual perception.

Dark Adaptation

The recovery of the eye’s sensitivity to visual stimuli in darkness after exposure to bright lights.

Fovea

A small depression in the retina of the eye where visual acuity is highest, due to the concentration of cones, specialized for daylight vision, fine detail, and color.

Cones

Photoreceptor cells in the retina of the eye that function best in relatively bright light and enable the perception of color.