Chapter 22--Accounting for

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1、Chapter22--AccountingforChangesandErrors3copyStudent:___________________________________________________________________________1.Anadvantageofretrospectiveadjustmentmethodisthatitachievescomparabilityandconsistencybetweenaccountingperiods.  True    Fals

2、e 2.Achangeinareportingentityisaccountedforbyaprospectiveadjustmentsothatallthefuturefinancialstatementsarepresentedconsistently.  True    False 3.AchangeinaccountingprinciplebecauseanAccountingStandardUpdatehasbeenissuedandtheformerprincipleisnolongerge

3、nerallyacceptedistreatedundertheprospectivemethod.  True    False 4.TheFASBrequirestheuseoftheretrospectiveadjustmentmethodbecauseitprovidesfinancialstatementuserswithmoreusefulinformationwhenaccountingforachangeinaccountingprinciples.  True    False 5.A

4、changeinaccountingestimatedoesnotresultinaretrospectiveadjustmenttopreviouslyissuedfinancialstatements.  True    False 6.Sometimesachangeinestimateandachangeinaccountingprincipleareundistinguishablethereforeacompanyshouldaccountforthechangeasachangeinacc

5、ountingprinciple.  True    False 7.Acompanyaccountsforachangeinreportingentityasaprospectiveadjustmentsothatallthefinancialstatementsarepresentedforthesameentity.  True    False 8.Achangeinaccountingentityislimitedtopresentingconsolidatedorcombinedfinanc

6、ialstatementsinplaceofindividualstatementsorachangeinthesubsidiariesthatmakeupagroupofcompaniesinwhichonewouldreporteitherasconsolidatedfinancialstatementsorchangingthemixofcompaniesincludedinthefinancialstatements.  True    False 9.Errorsaffectingonlyth

7、ebalancesheetarecorrectedwithajournalentryanddonotrequirearestatementoffinancialstatements.  True    False 10.Acounterbalancingerrorwillautomaticallycorrectitselfinthenextaccountingperiodevenifitisneverdiscovered.  True    False 11.Theaccountingchangesid

8、entifiedbycurrentGAAPincludeallofthefollowingexcept  A. correctionofanerrorB. changeinaccountingprincipleC. changeinaccountingestimateD. changeinreportingentity 12.Generallyacceptedmethodsofaccountingforachangeinaccounting