Which of the Following Circumstances Normally Does Not Affect the Consistency

question 13

Multiple Choice

Which of the following circumstances normally does not affect the consistency phrase in the auditor's standard report?

• A) A change in accounting estimate.
• B) A change in accounting principle.
• C) A change in the companies included in combined financial statements.
• D) A correction of an error in principle.

Know the age of Earth and the timing of key events in its biological history.

Discern the characteristics that define life and the criteria for detecting it.

Grasp the significance of photosynthesis and its impact on Earth's atmosphere and biosphere.

Recognize the characteristics shared among all living organisms, indicating common origins.

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Definitions:

Credit Column

A column in accounting records or financial statements used to record amounts that reduce balances in asset or expense accounts, or increase balances in liability, equity, or revenue accounts.

Financial Statement

A written record that conveys the financial activities and conditions of a business or individual.

Normal Balance

The side (debit or credit) of an account that increases its value, reflecting the conventional balance based on accounting rules.

Financial Statements

Documents that give an overview of a business's financial condition in both short and long term, including but not limited to, income statements, balance sheets, and statements of cash flows.