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Accounting Estimate Changes Are Handled Prospectively

question 97

True/False

Accounting estimate changes are handled prospectively.


Definitions:

Breach Of Contract

The violation of any terms or conditions within a legally binding agreement.

Punish Offender

The process or act of imposing a penalty on an individual or entity for breaking the law or rules.

Negligent Person

An individual who fails to take reasonable care, resulting in harm or injury to another person or to property.

Tort

A civil wrong that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act.

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