Which of the following would be considered a change that affects consistency?
A) Change in accounting estimate.
B) Change in accounting principle.
C) Change in classification and reclassification.
D) All of the above.

Question

Quizplus · Accepted Answer

A change in accounting principle would affect consistency since it involves a change in the method of accounting for a specific item or event, and could result in a change in financial statement presentation. A change in accounting estimate and a change in classification and reclassification would not affect consistency, as they do not involve a change in accounting principle.

Which of the Following Would Be Considered a Change That