When Reporting a Change in Accounting Principle, Required Disclosure(s)on the Income

question 65

Multiple Choice

When reporting a change in accounting principle, required disclosure(s) on the income statement include

• A)a per share amount for the cumulative effect of the change.
• B)the cumulative effect on prior years, net of tax.
• C)the cumulative effect be disclosed immediately after discontinued operations.
• D)silly question: a change in accounting principle is not reported on the income statement.

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Definitions:

Pinna

The visible part of the ear that is outside the head, responsible for capturing sound vibrations and funneling them into the ear canal.

Optic Chiasma

A structure located at the base of the brain where the optic nerves partially cross, allowing for the integration of visual information from both eyes.

Ganglion Cell Axons

The nerve fibers of ganglion cells in the retina that transmit visual information from the eye to the brain.

Cerebral Area

Specific regions of the brain's cerebral cortex associated with various functions such as sensory processing, motor control, and cognition.