Which of the Following Is Characteristic of a Change in an Accounting

question 36

Multiple Choice

Which of the following is characteristic of a change in an accounting estimate?

• A) It usually need not be disclosed
• B) It does not affect the financial statements of prior periods
• C) It should be reported through the restatement of the financial statements
• D) It makes necessary the reporting of pro forma amounts for prior periods

---

Definitions:

Protestantism

A branch of Christianity that originated with the Reformation, a movement against what its followers perceived to be errors in the Roman Catholic Church.

Family Disruption

Events or situations causing significant change or interruption in the structure or functioning of a family unit.

Divorce

The legal dissolution of a marriage by a court or other competent body, terminating the marital union and resolving issues of alimony, child custody, and division of property.

Industrialization

The process of societal transformation from primarily agrarian and handicraft economies to those dominated by industry and machine manufacturing, significantly impacting social and economic structures.