A Company Can Change from One Acceptable Accounting Principle to Another

question 125

True/False

A company can change from one acceptable accounting principle to another as long as the change improves the usefulness of information in its financial statements.

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Definitions:

Conjugation

Conjugation is a form of genetic exchange between bacteria where DNA is transferred from one bacterium to another through direct contact.

Ribosomes

Cellular organelles that serve as the site of biological protein synthesis, translating messenger RNA into proteins.

Bacteriophage

Type of virus that infects bacteria.

Emerging Disease

An emerging disease is a disease that has appeared in a population for the first time, or that may have existed previously but is rapidly increasing in incidence or geographic range.