Question: Choose the correct statement about accounting changes. a. the retrospective approach is applied to all accounting changes and error corrections b. the prospective approach is

Choose the correct statement about accounting changes.

a. the retrospective approach is applied to all accounting changes and error corrections

b. the prospective approach is not applied to changes in amortization method

c. the change from an incorrect accounting method to a correct method is an error correction

d. the change from an estimate not made in good faith to a more correct estimate is treated prospectively

e. an increase in the percent of credit sales deemed to be uncollectible is an accounting principle change

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