Who Is Responsible for Making Accounting Estimates

question 24

Multiple Choice

Who is responsible for making accounting estimates?

• A)Auditors.
• B)Management.
• C)Boards of directors.
• D)Shareholders.

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Definitions:

Certain Regions

Specific geographical areas or locations identified for a particular context or purpose.

William the Conqueror

A 11th-century Norman king who became the first Norman to be King of England after his victory at the Battle of Hastings in 1066.

Stare Decisis

The doctrine of precedent, under which a court is obligated to follow earlier decisions of that court or higher courts within the same jurisdiction. This is a major characteristic of the common law system.

Persuasive Precedents

Legal decisions from other jurisdictions or lower courts that may influence a court’s decision, though not binding.