4. Why is an entity permitted to change an account policy? a. The change would allow the entity to present a more favorable profit picture. bThe change would result in the financial statements providing more reliable and relevant information about financial position, financial performance and cash flows. e. The change is made by the internal auditor d. The change is made by the CPA.
4. Why is an entity permitted to change an account policy? a. The change would allow the entity to present a more favorable profit picture. bThe change would result in the financial statements providing more reliable and relevant information about financial position, financial performance and cash flows. e. The change is made by the internal auditor d. The change is made by the CPA.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter2: The Accounting Information System
Section: Chapter Questions
Problem 1MCQ
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