Determine whether the additional liability for the newly discovered asbestos is considered a change in accounting estimate
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Question:
Determine whether the additional liability for the newly discovered asbestos is considered a change in accounting estimate or an accounting error. Note that this is not a change in accounting principle. Support your answer using appropriately cited relevant authoritative guidance.
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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