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:

Joint

A point where two or more bones meet in the body, allowing for movement and support.

Cavity

An empty or unfilled space within a solid object or body, often referring to holes in teeth caused by decay.

Contusion

A bruise resulting from blunt trauma, leading to bleeding under the skin without breaking the skin.

Bones

The stiff structures that make up a portion of the internal skeleton in vertebrates, offering support, safeguarding, and assisting in mobility.