Changes in Accounting Principle Are Allowed Where

question 70

Multiple Choice

Changes in accounting principle are allowed where

• A) they are required by a primary source of GAAP.
• B) they result in reliable and more relevant information.
• C) the company reports less favourable results under the new policy.
• D) both a and b are correct.

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Definitions:

Transference Behaviors

Psychological phenomena where unresolved feelings, desires, and expectations from past relationships are projected onto current relationships, often occurring within therapy.

Aversive Conditioning

A type of counterconditioning that associates an unpleasant state (such as nausea) with an unwanted behavior (such as drinking alcohol).

Psychological Disorders

Psychological disorders, also known as mental disorders, are patterns of behavioral or psychological symptoms that impact multiple areas of life and create distress for the person experiencing them.

Phobias

Powerful, unwarranted dread towards certain entities, endeavors, or circumstances prompting one to steer clear of them.