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:

Economic Growth

An increase in the amount of goods and services produced per head of the population over a period of time, reflecting a growing economy.

Outward Shift

In economics, refers to the movement of a curve away from the origin on a graph, typically illustrating growth or increase in factors like production possibility frontier or supply curve.

Technology

The application of scientific knowledge for practical purposes, especially in industry and the development of new products or processes.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs.