Which of the Following Statements Is True Regarding Changes in Accounting

question 32

Multiple Choice

Which of the following statements is true regarding changes in accounting methods?

• A)The treatment of a change in accounting method differs depending on who initiates the change.
• B)Adjustments arising from a voluntary change in accounting method are generally accounted for in the year of the change.
• C)Taxpayers who change from an incorrect method of accounting to a correct method of accounting are not required to obtain the consent of the IRS.
• D)Corrections due to errors are treated the same as changes in accounting methods.

---

Definitions:

Negotiated Level

A mutually agreed upon standard or condition that is arrived at after discussion between parties involved.

Conflict Management

The practice of identifying and handling conflicts in a wise, fair, and efficient manner, focusing on effective communication and negotiation strategies to achieve resolutions.

Assertive

Relating to a behavior characterized by confidence and self-assurance in expressing one's opinions and needs directly and respectfully, without being aggressive or passive.