A Change in Reporting Entity Is an Example of an Accounting

question 27

True/False

A change in reporting entity is an example of an accounting change that affects comparability and requires an explanatory/emphasis-of-matter paragraph in the audit report.

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Definitions:

Cisterna Chyli

A dilated sac at the lower end of the thoracic duct into which lymph from the intestinal trunk and two lumbar lymphatic trunks flow.

Thoracic Duct

The largest lymphatic vessel in the body which transports lymph and chyle from the lower and left side of the body to the bloodstream.

Lymphatic Ducts

Large vessels of the lymphatic system that drain lymph from various parts of the body back into the bloodstream.

Laryngopharynx

The lower part of the pharynx just below the oropharynx and nasopharynx and above the esophagus and larynx, involved in both respiration and digestion.