In Situations Where the Change in Accounting Principle Has Both

question 74

Multiple Choice

In situations where the change in accounting principle has both direct and indirect effects on prior years' income, GAAP states that a company recognize

• A) only the direct effect retrospectively.
• B) the direct effect and discuss the indirect effect in the notes to the financial statements.
• C) only the indirect effect.
• D) the direct effect prospectively.

Recognize and describe the Five Factor Model of personality.

Explain the role of locus of control in shaping behavior and attitudes.

Discuss the importance of self-concept and how congruence between perceived and actual self influences behavior.

Describe the influence of social and environmental factors on personal development and behavior.

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Definitions:

Recession

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War on Terror

An international military campaign launched by the United States after the September 11, 2001, attacks, primarily targeting extremist terrorism.

Obergefell V. Hodges

A landmark U.S. Supreme Court case in which the Court ruled that the fundamental right to marry is guaranteed to same-sex couples by the Constitution.

Justice Kennedy

Anthony Kennedy, a former Associate Justice of the Supreme Court of the United States, known for his decisive swing vote in many key cases, particularly regarding civil rights and liberties.