Choose the correct statement(s) regarding changes in accounting estimates:
Changes in ac...
Business, 29.02.2020 02:25 jadenjohnson89
Choose the correct statement(s) regarding changes in accounting estimates:
Changes in accounting estimates generally result from the availability of new information.
Disclosure of current period effects is generally required for changes in estimate.
A change in accounting principle that is inseparable from a change in estimate is accounted for prospectively, but with footnote disclosure of retrospective effects.
A. II and III only.
B. I only.
C. III only.
D. I and II only.
Answers: 3
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