A Change in an Accounting Estimate Is

question 86

Multiple Choice

A change in an accounting estimate is:

• A)Reflected in past financial statements.
• B)Reflected in future financial statements and also requires modification of past statements.
• C)A change in a calculated amount that is part of current and future financial statements that results from new information or subsequent developments and from better insight or improved judgment.
• D)Not allowed under current accounting rules.
• E)Considered an error in the financial statements.

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