When There Is a Lack of Consistent Application in Accounting

question 87

Multiple Choice

When there is a lack of consistent application in accounting principles,

• A) the nature and impact of the change should be adequately disclosed.
• B) the auditor should discuss the nature of the change and point the reader to the footnote that discusses the change.
• C) the materiality of the change is evaluated based on the current year effect of the change.
• D) all of the above.

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Definitions:

Affiliation

The sense of connection or association with a group or organization, often resulting in a feeling of belongingness.

Achievement

The act of accomplishing a goal or attaining a high level of performance through effort or skill.

Esteem

A regard for or a sense of worth or importance of someone or something.

Bariatric Surgery

A group of surgical procedures aimed at weight loss by modifying the stomach and/or intestines.