Changes in Accounting Estimates

question 93

Multiple Choice

Changes in accounting estimates

• A)are accounted for in the same manner as changes in accounting policies.
• B)reduce the relevance and reliability of financial reporting.
• C)are applied to current and past reporting periods.
• D)are applied to current and future reporting periods.

---

Definitions:

Estrogen

A group of hormones responsible for the development and regulation of the female reproductive system and secondary sexual characteristics.

Progesterone

A steroid hormone that plays a key role in the menstrual cycle, pregnancy, and embryogenesis of humans and other species.

Adrenal Cortex

The outer region of the adrenal glands responsible for producing steroid hormones like cortisol and aldosterone.

Pineal Gland

A small endocrine gland in the brain that produces and regulates some hormones, including melatonin.