Reclassifications between measurement models are allowed in rare circumstances.

Name: Reclassifications between measurement models are allowed in rare circumstances.
Brand: Quizplus
Rating: 4.8 (54 reviews)

Question

Quizplus · Accepted Answer

Reclassifications between measurement models are allowed in rare circumstances, such as major changes in the organization's operations or the emergence of new information that significantly impacts the fair presentation of financial statements. However, such reclassifications should be disclosed and explained in the financial statements.

Reclassifications Between Measurement Models Are Allowed in Rare Circumstances