Generally Accepted Methods of Accounting for a Change in Accounting

question 70

Multiple Choice

Generally accepted methods of accounting for a change in accounting principle include

• A)restating prior years' financial statements presented for comparative purposes
• B)including the cumulative effect of the change in net income
• C)prospective changes
• D)making a prior period adjustment

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Definitions:

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Information or responses about an action or process, used as a basis for improvement.

Task-achievement Scaling

A method used to measure the success in completing specific tasks or achieving goals, often used in project management and educational settings.

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The degree to which a test, tool, or study accurately measures what it is intended to measure or accurately reflects the concept it is intended to capture.

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