A Change to GAAP from a Principle That Is Not

question 59

Multiple Choice

A change to GAAP from a principle that is not generally accepted

• A) requires a retrospective application of the new accounting principle.
• B) requires prospective treatment.
• C) requires a retrospective adjustment or restatement.
• D) is a correction of an error and accounted for by a prior-period adjustment.

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Definitions:

Homelessness

A situation where an individual lacks a fixed, regular, and adequate nighttime residence, including those who sleep in shelters, outdoors, or in places not meant for human habitation.

Mental Illness

A wide range of mental health conditions that affect mood, thinking, and behavior, requiring clinical diagnosis and management.

Job Skills

The specific competencies and knowledge required to perform the tasks and responsibilities of a particular job efficiently.

Enhanced Parenting

Strategies or methods used to improve interaction and caregiving skills of parents towards their children.