Where a Change in Accounting Estimates Occurs,the Following Should Be

question 2

Multiple Choice

Where a change in accounting estimates occurs,the following should be disclosed:

• A)the fact that the amount of the effect on future periods will not be disclosed because estimating that amount is impracticable.
• B)the reason for the change and comparative data to show the effect with and without the change.
• C)the nature of the change and the impact on previous statements of profit and loss.
• D)the fact that the amount of the effect on future periods will not be disclosed because estimating that amount is impracticable and the reason for the change and comparative data to show the impact with and without the change.

---

Definitions:

Correlation

Correlation is a statistical measure that describes the extent to which two or more variables fluctuate together, indicating the strength and direction of their relationship.

Standard Deviation

Standard deviation measures the amount of variation or dispersion of a set of values from the mean, indicating how spread out the data points are.

Yachts

Luxurious vessels used for personal or sporting purposes, often associated with leisure sailing or racing.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much individual values deviate from the mean.