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:

Dependent Variable

The outcome; the factor that can change in an experiment in response to changes in the independent variable.

Aggressive Behavior

Actions that are intended to cause harm or increase social dominance, often manifesting through physical or verbal threats.

Cause-and-Effect Relationship

Describes a situation where one event (the cause) makes another event happen (the effect), demonstrating a connection between actions and results.

Experimental Method

A research method involving the manipulation of variables to test hypotheses and determine causal relationships in a controlled environment.