Which of the Following Statements Is Correct

question 29

Multiple Choice

Which of the following statements is correct?

• A) Changes in accounting policy are always handled in the current or prospective period.
• B) Prior year statements should always be restated for changes in accounting estimates.
• C) A change from the deferral and amortization method to the immediate recognition method of accounting for defined benefit pension plans should be treated as a change in accounting policy.
• D) Correction of prior period error should be presented as an adjustment on the current income statement.

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Definitions:

Target Market

The specific group of consumers at which a product or service is aimed.

Marketing Program

A cohesive plan that integrates various promotional tools and strategies to communicate with a target audience and achieve marketing objectives.

Place Strategy

Part of the marketing mix, focusing on the distribution channels and locations where a product or service is made available to the target market.

Unilever

A multinational corporation that produces numerous consumer goods, including food, beverages, cleaning agents, and personal care products.