When a company makes an accounting change in estimate,Generally Accepted Accounting Principles require that the company make changes to financial statements of prior years.

Name: When a company makes an accounting change in estimate,Generally Accepted Accounting Principles require that the company make changes to financial statements of prior years.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Changes in accounting estimates are applied prospectively and do not require adjustments to prior period financial statements.

When a Company Makes an Accounting Change in Estimate,Generally Accepted