Disclosure Notes Related to a Change in Accounting Principle Under

question 66

Multiple Choice

Disclosure notes related to a change in accounting principle under the retrospective approach should include:

• A) The effect of the change on executive compensation.
• B) The auditor's approval of the change.
• C) The SEC's permission to change.
• D) Justification for the change.

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Definitions:

Blood sample

A small amount of blood taken from the body, typically for medical testing.

Evacuation system

A structured set of procedures and equipment designed to facilitate the safe exit of people from a building or area in the event of an emergency.

Butterfly system

A type of intravenous needle or system known for its small, winged design, allowing for easier, more stable access to veins.

Small veins

Blood vessels that carry blood toward the heart from the tissues; smaller than arteries and larger than capillaries.