Which of the Following Is a Change in Policy

question 38

Multiple Choice

Which of the following is a change in policy?

• A)A company changes from the gross method to the net method of recording cash discounts.
• B)A change in the terms of a loan from repayment on demand to a fixed repayment date two years after the fiscal year-end.
• C)A contingency for a lawsuit that was evaluated to be likely to lead to an outflow of resources was ultimately resolved against the reporting entity.
• D)A temporary tax difference was treated as permanent tax difference.

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Definitions:

Positive Strength

The aspects of a person's character that involve positive qualities and contribute to their overall well-being and success.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology, emphasizing the importance of the individual psyche and the personal quest for wholeness.

Unconditional Positive Regard

A concept in psychology that involves accepting and supporting someone without judgment, regardless of their actions or feelings.

Popular Culture

The set of ideas, perspectives, attitudes, images, and other phenomena that are within the mainstream of a given culture, especially Western culture in the late 20th and early 21st centuries.