A Company Can Change from One Acceptable Accounting Principle to Another

question 129

Short Answer

A company can change from one acceptable accounting principle to another as long as the change __________________________________________ in its financial statements.

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Definitions:

Creativity

The use of imagination or original ideas to create something; inventiveness.

Uncertain Conditions

Situations where the outcomes or future states are not predictable due to a lack of information or inherent variability in the environment.

Entrepreneurship

The act of creating, developing, and managing a business venture along with its financial risks in order to profit and innovate within the market.

Quickly Sense

The ability to rapidly perceive or deduce information from a given situation or environment.