A Change in Accounting Estimate Is

A change in accounting estimate is:

A) Reflected in current and future financial statements and also requires modification of past statements.
B) Reflected only in current and future financial statements.
C) Both reflected only in current and future financial statements and a change in a calculated amount used in the financial statements resulting from new information or subsequent developments and from better insight or improved judgment.
D) A change in a calculated amount used in the financial statements resulting from new information or subsequent developments and from better insight or improved judgment.
E) None of these answers is correct.