Solved

Anzelmo Corporation Invested in Jones Manufacturing by Purchasing a 10

Question 33

Multiple Choice

Anzelmo Corporation invested in Jones Manufacturing by purchasing a 10% interest in the company. Anzelmo had no significant influence in Jones. Over time, Anzelmo acquired more shares in Jones, and in 2019, Anzelmo's president became a member of the board of directors when its ownership interest reached 30% of Jones. This change is ________.


A) an accounting principle change requiring retrospective adjustment
B) an accounting principle change requiring prospective adjustment
C) a correction of an error
D) a change in estimate

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents