Retrospective Changes Require All but Which of the Following

question 83

Multiple Choice

Retrospective changes require all but which of the following?

• A) restatement of financial statements to reflect the effects of the change for each period presented
• B) adjustments to assets and liabilities to reflect the cumulative effect of the change on periods prior to those presented
• C) detailed numerical comparisons of all prior periods to restated statements
• D) retained earnings restated for the cumulative effect of the change on income for periods prior to those presented

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Definitions:

Primitive Variables

Primitive variables in computer programming are basic data types that hold values such as integers, booleans, and floating-point numbers, and are not objects.

Constant Variables

Variables whose values cannot be changed once they have been set initially, typically defined using final or const keywords.

Inner Class

A class defined within another class, used to handle the complexity of larger code structures by logically grouping classes that are only used in one place.

Outer Class

In Java, a class that is not nested within another class and may contain nested classes (inner classes) within it.