A Company Can Change to a New Method of Accounting

question 146

Multiple Choice

A company can change to a new method of accounting if management can justify that the new method results in

• A)more meaningful financial information.
• B)a higher net income.
• C)a lower net income for tax purposes.
• D)less likelihood of clerical errors.

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Definitions:

Blunted Affect

A significant reduction in the intensity of emotional expression.

Withdrawing from Others

The act of isolating oneself and avoiding social interactions or relationships.

Frotteuristic Disorder

A paraphilic disorder in which a person has repeated and intense sexual urges or fantasies that involve touching and rubbing against a nonconsenting person, and either acts on these urges with nonconsenting individuals or experiences clinically significant distress or impairment.

Exhibitionist Disorder

A sexual disorder characterized by intense, recurrent urges or behaviors involving exposing one's genitals to an unsuspecting person.