Which of the following statements is true with respect to financial statement reporting for all cases when a company changes from one acceptable accounting method to another?
A) Comparability across periods is impaired
B) Only a footnote is required to report the change
C) Changes in both depreciation methods and inventory methods are reported retroactively.
D) Management must indicate that the accounting method change is preferable to the old method.

Question

Quizplus · Accepted Answer

Management must indicate that the accounting method change is preferable to the old method to justify the change in accounting principles.

Which of the Following Statements Is True with Respect to Financial