Which of the Following Is True of Accounting for Changes

question 35

Multiple Choice

Which of the following is true of accounting for changes in estimates?

• A) A company recognizes a change in estimate by making a retrospective adjustment to the financial statements
• B) A company accounts for changes in estimates only in the period of change, even though it affects the future periods
• C) Changes in estimates are not carried back to adjust prior years
• D) Changes in estimates are considered as errors or extraordinary items

---

Definitions:

Sexual Power

The capacity or ability of individuals or groups to influence others and outcomes based on sexual attributes, desirability, or stereotypes.

Social Selves

The part of an individual's personality formed through social interactions and the perception of others.

Identity Politics

A type of politics in which groups of people having a particular racial, religious, ethnic, social, or cultural identity seek to promote their own specific interests or concerns without regard to the interests or concerns of any larger political group.

Social Movements

Organized collective efforts by people to promote or resist change in society, often aiming at social reform or revolution.