Answer:
Most changes in accounting principles are only reported in current periods when the principle change takes place.
Explanation:
Accounting principle can be defined as a general guideline to be followed by accountants or financial institutions when they record and report their financial transactions.
A change in an accounting principle involves a change in an accounting method used.
For instance, an accountant switching between First In, First Out (FIFO) to Last In, First Out (LIFO) method of inventory valuation or by using another depreciation method.
Additionally, an accounting principle should only be changed, if it's applicable to the accounting framework being used such as Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Also, it is important to state in the footnotes of the financial statements a full disclosure to highlight the justification for the preferred change and financial implications of this change.
The following are true about the change in accounting principles;
1. Most changes in accounting principles are retroactively reported.
2. Changes in accounting principles are allowed when new principles are preferable to old ones.
3. Consistency is one of the biggest concerns when a change in accounting principle is undertaken.
Answer: a change in the price level.
Explanation:
A shift in the aggregate supply curve is caused by non-price changes such as real wages of the workers, tax, technological innovation, productivity level etc.
The change in price will only result in the movement along the supply curve, which is also referred to as the change in quantity supplied. A change in price will not cause a shift on the aggregate supply curve.
Therefore, option A is the correct answer.
Answer:
martphones are a type of handheld computer that do not need input, output, processing, or storage.
Explanation: sasas
8iksa
A cost that remains unchanged in total despite variations in the volume of activity within a relevant range is a fixed cost. The fixed cost is a type of cost behavior which remains unchanged regardless of the unit or activity changes in a production process<span>. There are four types of cost behavior, which are the fixed cost, the variable cost, the mixed cost, and the step cost.</span>
Is there anymore answers so i can help u? but i feel like it would be sense of humor.