1) A change in a reporting entity is accounted for by a prospective adjustment so that all financial statements are presented for the same entity.
1) A change in a reporting entity is accounted for by a prospective adjustment so that all financial statements are presented for the same entity.
a. True b. False
2) A change in accounting principle because an Accounting Standard Update has been issued and the former principle is no longer generally accepted is treated under the prospective method. a. True
b. False
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Authors: Robert Anthony, James S. Reece, Kenn Merchant, David Hawkins
11th International Edition
0071232265, 978-0071232265
