Answer the following questions
1. _______Name and define four types of Accounting Changes.
2. _______List each of the types of Accounting change, and choose the approach used to change the financial statements.
_____________________________ Retrospective Prospective Current
_____________________________ Retrospective Prospective Current
_____________________________ Retrospective Prospective Current
_____________________________ Retrospective Prospective Current
3. _______What would motivate management to change the financial statements for their own benefit?
(Hint: Text discusses 4 reasons)
4. ________Name at least three types of errors that could occur in the financial statements:

Answer rating: 100% (QA)

1 Code Change in accounting principle A change in accounting principle is the term used when a busin... View the full answer