When There Has Been a Change in Accounting Principles,but the Effect

question 74

Multiple Choice

When there has been a change in accounting principles,but the effect of the change on the comparability of the financial statements is not material,the auditors should

• A) refer to the change in an emphasis-of-matter paragraph.
• B) explicitly concur that the change is preferred.
• C) not refer to consistency in the report.
• D) refer to the change in the opinion paragraph.

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Definitions:

Peter Drucker

A highly influential management consultant, educator, and author, known as the father of modern management for his extensive works and principles on business management.

Customer Needs

The explicit and implicit factors that a customer seeks to fulfil when buying a product or a service.

Marketing Strategy

A business's overall game plan for reaching prospective consumers and turning them into customers of their products or services.

Business Portfolio

The collection of businesses, investments, products, or services that a company owns or operates, strategically managed to achieve optimal performance.