A Change in an Accounting Estimate Is

question 107

Multiple Choice

A change in an accounting estimate is:

• A) Reflected in past financial statements.
• B) Reflected in future financial statements and also requires modification of past statements.
• C) Reflected in current and future years' financial statements, not in prior statements.
• D) Not allowed under current accounting rules.
• E) Considered an error in the financial statements.

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Definitions:

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