Which of the Following Is Characteristic of a Change in Accounting

question 23

Multiple Choice

Which of the following is characteristic of a change in accounting principle?

• A) Requires the reporting of pro forma amounts for prior periods
• B) Does not affect the financial statements of prior periods
• C) Never needs to be disclosed
• D) Should be reported by retrospectively adjusting the financial statements for all years reported,and reporting the cumulative effect of the change in income for all preceding years as an adjustment to the beginning balance of retained earnings for the earliest year reported

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Definitions:

Pathological Conscious Dissociation

An abnormal mental process involving a disconnection and lack of continuity between thoughts, memories, surroundings, actions, and identity.

Dissociative Identity Disorder

A psychological condition characterized by the presence of two or more distinct personality states or identities within a single individual.

Sexual Abuse

Any unwanted sexual activity, with perpetrators using force, making threats, or taking advantage of victims not able to give consent.

Verbal Bullying

Bullying behavior that uses spoken words, threats, or name-calling to intimidate or humiliate someone.