Which of the following would be considered a change that does not affect consistency?
A) Change in accounting estimate.
B) Change in accounting principle.
C) Correction of an error in principle.
D) None of these are considered changes that do not affect consistency.

Question

Quizplus · Accepted Answer

A change in accounting estimate does not affect consistency because it involves revising an estimate based on new information or developments and does not alter the fundamental accounting principles used by the company. Changes in accounting principle and the correction of errors in principle both affect consistency because they involve a change in the overall approach to accounting for a particular item or transaction.

Which of the Following Would Be Considered a Change That