Subsequent to Codification, Changes to Guidance in the Codification Are

question 7

Multiple Choice

Subsequent to Codification, changes to guidance in the Codification are now made through:

• A)accounting standards updates
• B)XBRL elements
• C)issuance of a new statement of position
• D)all of the these are correct

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Definitions:

Worksheet

A document or tool used by accountants for preparing financial statements and supporting calculations.

Sales

Sales refer to the total revenue earned by a business from selling goods or services.

Worksheet

A spreadsheet used for preparing financial statements and reconciling accounts.