If a company that uses GAAP changes its valuation method for accounting for important assets, it must disclose this change of methods.

Name: If a company that uses GAAP changes its valuation method for accounting for important assets, it must disclose this change of methods.
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Quizplus · Accepted Answer

According to GAAP guidelines, whenever there is a change in accounting method, it must be disclosed in the financial statements or footnotes. This helps to maintain transparency and consistency in financial reporting.

If a Company That Uses GAAP Changes Its Valuation Method