Which of the Following Is Characteristic of a Change in Accounting

question 91

Multiple Choice

Which of the following is characteristic of a change in accounting estimate?

• A)Requires the reporting of income statements amounts for prior periods
• B)Never needs to be disclosed
• C)Does not affect the financial statements of prior periods
• D)Should be reported through restatement of the financial statements

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Definitions:

Technical Skill

The ability to perform specific tasks related to a particular field of expertise, often involving the use of tools or technology.

Proficiency

Refers to a high degree of competence or skill in a particular activity or field.

Expertise

specialized knowledge or skills acquired through training, study, or experience in a particular field or area.

Emotional Intelligence

The ability to recognize, understand, and manage one's own emotions as well as the emotions of others.