Explain whether each of the following transactions would be accounted for as a change in accounting policy,change in accounting estimate or as an error correction.Assume that the entity reports its financial results in accordance with ASPE and all transactions are material.
Definitions:
Homogenization
The process of making things uniform or similar by blending or removing differences.
Reality TV Shows
Television programs that feature non-actors in real-life or staged situations, intended for entertainment rather than informational content.
National Versions
Variations or adaptations of a concept, product, or media content tailored to fit the cultural, legal, or linguistic preferences of different countries.
McDonaldization
A term referring to the process by which principles of fast food restaurants, such as efficiency, predictability, and control, come to dominate more sectors of society and the economy.
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