Which Type of Accounting Change Should Always Be Accounted for in Current

question 47

Multiple Choice

Which type of accounting change should always be accounted for in current and future periods?

• A)Change in accounting policy
• B)Change in reporting entity
• C)Change in accounting estimate
• D)Correction of an error

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Definitions:

Anti-Americanism

A sentiment of hostility or opposition towards the United States, its policies, culture, or people.

Jihad

An Islamic term referring to the spiritual struggle against sin, though it is often misrepresented in media as solely physical or violent conflict.

Manila

The capital city of the Philippines, known for its rich history, blend of cultures, and significant role in commerce, entertainment, and arts.

Rotting Garbage

Decomposing organic waste, typically emitting a foul odor and attracting pests.