Retrospective restatement usually is appropriate for a change in:
A) Option A
B) Option B
C) Option C
D) Option D

Name: Retrospective restatement usually is appropriate for a change in: A) Option A B) Option B C) Option C D) Option D
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Question

Retrospective restatement usually is appropriate for a change in: 
A) Option A 
B) Option B 
C) Option C 
D) Option D

Quizplus · Accepted Answer

Most changes in accounting principle are accounted for retrospectively. That is, financial statements of prior periods are restated to report the financial information for the new reporting entity in all periods. Changes in estimate are accounted for prospectively.

Retrospective Restatement Usually Is Appropriate for a Change In