4. Which of the following is reported prospectively? 2 points OA change in accounting estimate O A change in reporting entity A change resulting from correcting a prior period error O A change in accounting principle 20. Changes in accounting estimates require disclosure of their effects, 2 points if material, on current year net income and EPS but do not require restatement of prior years' financial statements O True False 2 points 22. Which of the following errors will not require a prior period adjustment to Retained Earnings? O An error in reporting depreciation expense in year 1 that is discovered in year 2 An error in reporting depreciation expense in year 1 that is discovered in year 3 or later An error in reporting ending inventory in year 1 that is discovered in year 3 or later O An error in reporting ending inventory in year 1 that is discovered in year 2