The Financial Statement Presentation of a Change in Reporting Entity

question 80

Multiple Choice

The financial statement presentation of a change in reporting entity is most similar to the reporting of a:

• A)A change in accounting principle.
• B)Change in accounting estimate.
• C)Discontinued business operation.
• D)Correction of a material error discovered after the year the error was made.

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Definitions:

One-To-Many Relationship

A type of database relationship where a single record in one table can be associated with one or more records in another table.

Records

Pieces of information or data that are stored and managed as part of a larger dataset or database, often consisting of multiple fields to represent different attributes.

Matching Records

Instances in databases or datasets where two or more records are identical or meet specified criteria for similarity.

Customers Table

A structured data representation in databases specifically designed to store customer-related information.