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A change in an accounting estimate is: 1) Reflected in current and future years' financial statements, not in prior statements. 2) Not allowed under current

A change in an accounting estimate is:
1) Reflected in current and future years' financial statements, not in prior statements.
2) Not allowed under current accounting rules.
3) Reflected in future financial statements and also requires modification of past statements.
4) Reflected in past financial statements.
5) Considered an error in the financial statements.

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