Which of the Following Would Be Considered a Change That

question 49

Multiple Choice

Which of the following would be considered a change that does not affect consistency?

• A) Change in accounting estimate.
• B) Change in accounting principle.
• C) Correction of an error in principle.
• D) None of these are considered changes that do not affect consistency.

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Definitions:

Economic Growth

A rise in the economic power to produce goods and services when comparing distinct periods.

Capital Formation

The process of accumulating assets and investments that are used for future production or economic growth.

World Bank

An international monetary organization granting loans and finances to governments of less affluent countries for capital project undertakings.

Developing Nations

Countries with lower levels of industrialization, lower standards of living, and lower Human Development Index (HDI) scores compared to more developed countries.