Where a Change in Accounting Estimates Occurs,the Following Should Be

question 62

Multiple Choice

Where a change in accounting estimates occurs,the following should be disclosed.

• A) The fact that the amount of the effect on future periods will not be disclosed because estimating that amount is impracticable.
• B) The reason for the change and comparative data to show the impact with and without the change.
• C) The nature of the change and the impact on previous income statements.
• D) The fact that the amount of the effect on future periods will not be disclosed because estimating that amount is impracticable and the reason for the change and comparative data to show the impact with and without the change.
• E) None of the given answers.

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Definitions:

Spontaneous Recovery

A process in which a previously extinguished response reemerges after the conditioned stimulus is presented again.

Conditioned Stimulus

In classical conditioning, a previously neutral stimulus that, after becoming associated with the unconditioned stimulus, triggers a conditioned response.

Reflexive Response

An automatic reaction to a stimulus, not under conscious control, often protecting the body from harm or promoting its physiological well-being.

Neutral Stimulus

A stimulus that initially produces no specific response other than focusing attention, until it is paired with an unconditioned stimulus.