Which of the following is true of accounting for changes in estimates?
a. A company rec...
Business, 06.05.2020 02:24, maritzamartinnez
Which of the following is true of accounting for changes in estimates?
a. A company recognizes a change in estimate by making a retrospective adjustment to the financial statements
b. Changes in estimates are not carried back to adjust prior years
c. A company accounts for changes in estimates only in the period of change, even though it affects the future periods
d. Changes in estimates are considered as errors or extraordinary items
Answers: 1
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