Most Changes in Accounting Principle Require a Disclosure Justifying the Change

question 39

True/False

Most changes in accounting principle require a disclosure justifying the change in the first set of financial statements that the change is made.

---

Definitions:

Disaccharide

A type of carbohydrate made up of two monosaccharide molecules bonded together.

Monosaccharide

The simplest form of carbohydrate, consisting of a single sugar molecule, such as glucose or fructose.

Complex Carbohydrates

Carbohydrates consisting of long chains of sugar molecules, including starches and fibers, which provide sustained energy and aid in digestive health.