Under Which of the Following Changes Would No "Catch-Up" Entry

question 95

Multiple Choice

Under which of the following changes would no "catch-up" entry be required,because the remaining accounting value is allocated over the present and future periods?

• A) Correction of an error.
• B) Change to new tax laws.
• C) Change in accounting principle.
• D) Change in accounting estimate.

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Definitions:

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

Ratio

A quantitative relationship between two numbers, showing how many times one value contains or is contained within the other.

Smallest Term

The term in a mathematical expression or equation that has the lowest degree, or in a sequence or series, the term with the least value.

Express

To convey a thought or feeling in words or by gestures and conduct.