A change from an accounting principle that is not generally accepted to an accounting principle that is acceptable should be treated as an accounting error.

Name: A change from an accounting principle that is not generally accepted to an accounting principle that is acceptable should be treated as an accounting error.
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Question

Quizplus · Accepted Answer

A change from a non-GAAP principle to a GAAP principle is considered an error correction because the initial accounting was incorrect.

A Change from an Accounting Principle That Is Not Generally