A change of estimate should be made to the income statement of ……..
A)Current period and future period
B)Prior period
C)Current year
D)None of the above

Name: A change of estimate should be made to the income statement of …….. A)Current period and future period B)Prior period C)Current year D)None of the above
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Question

Quizplus · Accepted Answer

A change in estimate is accounted for prospectively, meaning it affects the current period and future periods, but not past periods.

A Change of Estimate Should Be Made to the Income