When a Company Changes an Accounting Principle, It Should Report

question 29

True/False

When a company changes an accounting principle, it should report the change by reporting the cumulative effect of the change in the current year's income statement.

---

Definitions:

Behavioural Interviews

A method of interviewing where candidates are asked to describe past behavior as a predictor of future performance.

Actual Behaviours

Observable actions or reactions of individuals as opposed to their stated intentions or beliefs.

Radically Different Persona

A character or identity that is significantly distinct or divergent from one's usual self or from others'.

Quiet And Introvert

Describes a person who prefers calm environments and tends to focus on internal feelings rather than external sources of stimulation.