Prospective changes require changes be made to the current year and all future years affected.
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Q6: Retrospective changes require all but which of
Q7: Accounting estimate changes are handled prospectively.
Q8: Direct effects of changes in an accounting
Q9: Accounting entity changes are handled prospectively.
Q10: Changes in accounting principles can be mandatory
Q12: Explain why comparability and consistency are considerations
Q13: Indirect effects of changes in an accounting
Q14: If a mandatory accounting change requires too
Q15: There are four types of accounting changes
Q16: When making a voluntary accounting change, a
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