Which of the following statements is true regarding changes in accounting methods?
A) The treatment of a change in accounting method differs depending on who initiates the change.
B) Adjustments arising from a voluntary change in accounting method are generally accounted for in the year of the change.
C) Taxpayers who change from an incorrect method of accounting to a correct method of accounting are not required to obtain the consent of the IRS.
D) Corrections due to errors are treated the same as changes in accounting methods.
Correct Answer:
Verified
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