A Change in Accounting Estimate Affected by a Change in Accounting

question 68

Multiple Choice

A change in accounting estimate affected by a change in accounting principle should be reported as

• A) a change in accounting principle.
• B) a change in accounting estimate and a change in accounting principle.
• C) a change in accounting estimate.
• D) neither a change in accounting estimate nor a change in accounting principle.

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Definitions:

Eyeballs

The organs of vision located in the eye sockets of the skull, allowing for sight by responding to light.

Myopia

A condition of the eyes where close objects appear clearly, but distant objects appear blurry.

Hyperopia

A vision condition also known as farsightedness, where distant objects are seen more clearly than near objects due to the eyeball being too short.

Optic Neuritis

Optic neuritis is the inflammation of the optic nerve that can cause a temporary reduction in vision, usually in one eye, characterized by pain with eye movement and visual disturbances.