Disadvantages of Using the Retrospective Application Method Do Not Include

question 37

Multiple Choice

Disadvantages of using the retrospective application method do not include which of the following?

• A) Numbers must be changed on previously released financial statements.
• B) The cost of determining the effect of the change may be greater than the benefits obtained from the increase in comparability.
• C) It has possible impacts on contractual arrangements.
• D) All financial statements consistently apply the same revenue recognition principles.

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Definitions:

Behavioral

Pertaining to the actions or reactions of persons or organisms in response to external or internal stimuli.

Clinical Decision-making

The process by which healthcare professionals make choices regarding the diagnosis, treatment, and care of patients, based on clinical evidence and patient information.

Individual

A single human being distinct from a group, class, or family, often considered in terms of unique personal characteristics or behaviors.

Medication

Substances used to treat or manage medical conditions or symptoms, often prescribed by healthcare professionals.