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:

Constant Light

An environmental condition where light exposure does not vary, often used in research to study circadian rhythms.

Free-Running Rhythm

Natural cycles that are not influenced by external cues like light, often studied in relation to biological rhythms.

Determined

Having a firm decision and being unwavering in achieving a goal or completing a task.

Temperature

Temperature is a measure of the thermal energy present in an object or environment, indicating how hot or cold it is.