Multiple Choice
Following U.S. Generally Accepted Accounting Principles, how is a change in accounting estimate handled?
A) The new estimate must be used in the current and future years only.
B) The new estimate must be used in the prior year financial statements only.
C) The new estimate must be used in the future years only.
D) The new estimate must be used in the prior, current and future years.
Correct Answer:
Verified
Correct Answer:
Verified
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