A Change in Accounting Estimate Is

Multiple Choice

A change in accounting estimate is

A) Reflected only in current and future financial statements
B) Reflected in current and future financial statements and also requires modification of past statements
C) 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) 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
E) None of these