Which of the Following Should Not Be Reported Retroactively

question 10

Multiple Choice

Which of the following should not be reported retroactively?

• A) Use of an unacceptable accounting principle, then changing to an acceptable accounting principle
• B) Correction of an overstatement of ending inventory made two years ago
• C) Use of an unrealistic accounting estimate, then changing to a realistic estimate
• D) Change from a good faith but erroneous estimate to a new estimate

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Definitions:

Jealousy

An emotional state that arises from perceived threats to a relationship or position, often accompanied by fear and sadness.

Intense Feelings

Strong, powerful emotions that can significantly impact an individual's behavior and decision-making.

Managing Emotions

The process of recognizing, understanding, and controlling one's feelings and emotions, especially in workplace settings.

Reading Others

The ability to understand and interpret the emotions, thoughts, and intentions of others through their verbal and non-verbal cues.