Which of the Following Statements Is Not Correct

question 69

Multiple Choice

Which of the following statements is not correct?

• A) A change from an inappropriate accounting principle to a proper one should be accounted for as an accounting error.
• B) A change from an inappropriate accounting principle to a proper one should be accounted for as a change in accounting principle.
• C) A change from an inappropriate accounting principle to a proper one should be accounted for retrospectively.
• D) A change from an inappropriate accounting principle to a proper one may require an adjustment to beginning retained earnings for the earliest year reported.

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Definitions:

Homologous Chromosomes

Pairs of chromosomes in a diploid organism that are similar in shape, size, and gene content, one inherited from each parent.

Nucleotides

The basic building blocks of DNA and RNA, consisting of a nitrogenous base, a sugar molecule, and one or more phosphate groups.

Quantitative Trait

Characteristics or phenotypes that vary in degree and can be attributed to polygenic effects, such as height or skin color.

Recessive Trait

A genetic trait that is expressed only when two copies of the gene are present, one from each parent.