Which of the following changes would normally require some footnote disclosure?
A)a correction of an error
B)a change in reporting entity
C)a change in accounting estimate
D)all of these

Question

Quizplus · Accepted Answer

All of these changes would require footnote disclosure. 
- A correction of an error would need to be explained and its impact on the financial statements disclosed. 
- A change in reporting entity would require explanation and the financial statements presented prior to the change may need to be restated. 
- A change in accounting estimate would need to be disclosed along with the reasons for the change and its impact on the financial statements.

Which of the Following Changes Would Normally Require Some Footnote