One of the Disclosure Requirements for a Change in Accounting

question 9

True/False

One of the disclosure requirements for a change in accounting policy is to show the cumulative effect of the change on retained earnings as of the beginning of the earliest period presented.

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Definitions:

Priming

The process by which exposure to a stimulus influences a response to a subsequent stimulus, without conscious guidance or intention.

Infant Memory

The capacity for infants to encode, store, and retrieve information, which begins to develop shortly after birth.

Memory Item

A specific piece of information or knowledge that has been retained by the brain and can be recalled or remembered.

Enhanced Encoding

The process of improving the way information is absorbed and stored in the memory through the use of techniques or stimuli that strengthen memory traces.