Which Type of Accounting Change Should Always Be Accounted for in Current

question 47

Multiple Choice

Which type of accounting change should always be accounted for in current and future periods?

• A)Change in accounting policy
• B)Change in reporting entity
• C)Change in accounting estimate
• D)Correction of an error

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Definitions:

Government Employee

An individual who works within the public sector, employed by government departments or agencies.

Right-to-Work State

A U.S. state where laws prohibit union security agreements between companies and workers' unions, meaning employment cannot be conditioned on union membership or dues payment.

Retailing

The process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.

Strikes

A work stoppage caused by the mass refusal of employees to work, typically to protest against terms of employment or working conditions.