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How should the effect of a change in accounting estimate be

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Reference no: EM132698803

Problem 1: How should the effect of a change in accounting estimate be accounted for?

a. By restating amounts reported in financial statements of prior periods

b. By reporting pro forma amounts for prior periods

c. As a prior period error

d. In the period of change and future periods if the change affects both

Problem 2: When it is difficult to distinguish between a change in accounting estimate and a change in accounting policy, the change is treated as

a. Change in accounting estimate with appropriate disclosure

b. Change in accounting policy

c. Correction of an error

d. Change in accounting estimate with no appropriate disclosure

Reference no: EM132698803

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