Changes in accounting estimates are based on
A) information available from the use of hindsight.
B) information available at the time financial statements are prepared.
C) providing comparable information in the financial statements.
D) low quality of professional judgment being exercised.
Correct Answer:
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Q65: A change in accounting policy should
A)be based
Q66: Which of the following would result in
Q67: Changes in accounting estimates are
A)accounted for in
Q68: Sing Songs Ltd. started operations on
Q69: Which one of the following errors would
Q71: If the gross profit percentage used in
Q72: Changes in accounting estimates
A)are accounted for in
Q73: Which statement is not correct?
A)Accruals involve uncertainty
Q74: Changes in accounting estimates are based on
A)new
Q75: Which of the following is an example
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