Changes in Accounting Principles Generally Are Reported as

question 38

Multiple Choice

Changes in accounting principles generally are reported as

• A) adjustments to current and/or prior period statements.
• B) extraordinary items.
• C) adjustments to current period statements only.
• D) adjustments to prior period statements.

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Definitions:

Mediation

A conflict resolution method where a neutral third party helps disputants come to a consensus on their own.

Arbitration

A form of dispute resolution where a neutral third party makes a binding decision to resolve a conflict between parties.

Conflict Management

The practice of identifying and handling conflicts in a sensible, fair, and efficient manner, aiming to minimize negative impacts while maximizing the positive outcomes.

Emotional Intelligence

The ability to understand, use, and manage one's own emotions in positive ways to relieve stress, communicate effectively, empathize with others, overcome challenges, and defuse conflict.