Regardless of the type of accounting change that occurs,the most important responsibility is:
A)To properly determine the tax effect.
B)To communicate that a change has occurred.
C)To compute the correct amount of the change.
D)None of these answer choices is correct.

Question

Quizplus · Accepted Answer

Communicating that a change has occurred is crucial, as it allows stakeholders to understand and analyze the impact of the change on financial statements and decision-making. While ensuring proper tax treatment and accurate computation are also important, communication takes priority in terms of responsibility.

Regardless of the Type of Accounting Change That Occurs,the Most