There are several ways the recognition and measurement concepts can be violated. Which one of the following would not necessarily be considered a violation?
A) intentional misstatement of estimates
B) failure to record a revenue or expense
C) recognition of revenue or expense in the incorrect accounting period
D) a change in an accounting policy

Question

Quizplus · Accepted Answer

A change in an accounting policy is not necessarily a violation of recognition and measurement concepts if it is properly disclosed and justified according to the relevant accounting standards. Changes in accounting policies can be legitimate responses to changes in the business environment or to provide more reliable and relevant information.

There Are Several Ways the Recognition and Measurement Concepts Can