Which Statement Concerning Accounting for Accounting Changes and Errors Is

question 98

Multiple Choice

Which statement concerning accounting for accounting changes and errors is false?

• A) An error is accounted for retrospectively.
• B) A change in accounting principle is accounted for prospectively.
• C) A change in accounting principle may be accounted for retrospectively.
• D) A change in accounting estimate is accounted for prospectively.

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Definitions:

Rhymes

Literary devices which involve the repetition of similar or identical sounds at the end of two or more words, most often at the ends of lines in poems and songs.

Repetition

The act or process of doing or saying something again, often used for emphasis, learning, or effect.

Simple Plot

A Simple Plot refers to the basic structure of a narrative with a clear and straightforward sequence of events.

Perspective

A particular attitude towards or way of regarding something; a point of view.