Which of the Following Are Changes That Affect the Comparability

question 40

Multiple Choice

Which of the following are changes that affect the comparability of financial statements but not the consistency and therefore, do not have to be included in the auditor's report?

• A) error corrections not involving principles
• B) changes in accounting estimates
• C) variations in the format and presentation of financial information
• D) all of the above

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Definitions:

Duress

Any unlawful act or threat exercised on a person whereby the person is forced to enter into an agreement or to perform some other act against his or her will.

Physical Harm

Damage or injury to a person's body.

Legal Assent

An agreement to enter into a contract that is recognized by law, marked by the understanding and agreement to the terms by all parties involved.

Contract Dispute

A disagreement between parties regarding the terms, performance, or understanding of a contract.