Intermediate Accounting, Binder Ready Version

Intermediate Accounting, Binder Ready Version

Title: Intermediate Accounting, Binder Ready Version

Author: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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CHAPTER 22 ACCOUNTING CHANGES AND ERROR ANALYSIS TRUE-FALSE--Conceptual Answer F T F T F T T T F T F F T F T T F F T T No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Description Change in accounting estimate. Errors in financial statements. Adoption of a new principle. Retrospective application of accounting principle. Reporting cumulative effect of change in principle. Disclosure...

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CHAPTER 22 ACCOUNTING CHANGES AND ERROR ANALYSIS TRUE-FALSE Conceptual Answer No. Description F 1. Change in accounting estimate. T 2. Errors in financial statements. F 3. Adoption of a new principle. T 4. Retrospective application of accounting principle. F 5. Reporting cumulative effect of change in principle. T 6. Disclosure requirements for a change in principle. T 7. Indirect effect of an accounting change. T 8. Retrospective application impracticality. F 9. Reporting changes in accounting estimates. T 10. Change in principle vs. change in estimate. F 11. Accounting for change in depreciation method. F 12. Accounting for change in reporting entities. T 13. Example of a change in reporting entities. F 14. Accounting error vs. change in estimate. T 15. Accounting for corrections of errors. T 16. New principle created by FASB standard. F 17. Balance sheet errors. F 18. Definition of counterbalancing errors.

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