Which of the Following Statements Is Not Correct

question 69

Multiple Choice

Which of the following statements is not correct?

• A) A change from an inappropriate accounting principle to a proper one should be accounted for as an accounting error.
• B) A change from an inappropriate accounting principle to a proper one should be accounted for as a change in accounting principle.
• C) A change from an inappropriate accounting principle to a proper one should be accounted for retrospectively.
• D) A change from an inappropriate accounting principle to a proper one may require an adjustment to beginning retained earnings for the earliest year reported.

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Definitions:

Biopsychosocial Systems

An approach in psychology that examines psychological disorders and treatments based on the complex interplay between biological, psychological, and social factors.

Biological Systems

Complex networks of biologically relevant entities or processes that interact, such as ecosystems or physiological systems within the body.

Impressionable Systems

Systems that are easily influenced or modified by external factors, typically used in the context of organizations, networks, or technologies.

Ions

Atoms or molecules that have gained or lost one or more electrons, making them positively or negatively charged.