Answered: Changes in accounting estimates are:…

Changes in accounting estimates are: A. Reported in past periods only. B. Reported as prior period adjustments. C. Accounted for in current and future periods. D. Reported in future periods only.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 1MC: The cumulative effect of an accounting change should generally be reported as an adjustment to the...

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Question

Changes in accounting estimates are:

A. Reported in past periods only.
B. Reported as prior period adjustments.
C. Accounted for in current and future periods.
D. Reported in future periods only.

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