All of the Following Statements Regarding Changes in Accounting Principle

question 225

Multiple Choice

All of the following statements regarding changes in accounting principle are true except

• A) most changes in accounting principle are retroactively reported.
• B) changes in accounting principle are allowed when new principles are preferable to old ones.
• C) most changes in accounting principle are only reported in current periods when the principle change takes place.
• D) consistency is one of the biggest concerns when a change in accounting principle is undertaken.

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Definitions:

Educational Approach

An educational approach refers to the methods and strategies used by educators to facilitate learning and ensure academic and social development of students.

Exceptional Children

Children who differ from the norm, either by exhibiting superior abilities or by having certain learning or physical disabilities, requiring special educational provisions.

Traditional Educational System

An education system based on standardized curricula, teacher-centered instruction, and formal assessments, often found in conventional school settings.

Regular Education

The standard curriculum or general education pathway provided in schools to all students, excluding specialized or alternative education programs.