A Company Can Change to a New Accounting Principle If

question 122

Multiple Choice

A company can change to a new accounting principle if management can justify that the change will result in

• A)less likelihood of clerical errors.
• B)higher net income.
• C)lower net income for tax purposes.
• D)more relevant information for decision-making.

---

Definitions:

Italian Wine

Wines produced in Italy, known for their rich variety and quality, stemming from many of the country's regions with long-standing traditions in viticulture.

British Pounds

The official currency of the United Kingdom, known as Sterling, symbolized as GBP.

British Chess Set

A specific style of chess pieces, often referred to as the Staunton pattern, that is recognized for its distinguishable design and used officially in competition.

Japanese Yen

The official currency of Japan, used as a medium of exchange within the country.