Multiple Choice
A company changes from capitalizing and amortizing preproduction costs to recording them as an expense when incurred, because future benefits associated with those costs have become doubtful.This accounting change should be recognized as a
A) change in accounting estimate
B) change in accounting principle
C) change in reporting entity
D) correction of an error
Correct Answer:

Verified
Correct Answer:
Verified
Q20: Disadvantages of using the retrospective application method
Q21: When disclosing the impact of a retrospective
Q22: Most changes in accounting principles are accounted
Q23: Which of the following errors will normally
Q24: Exhibit 23-1 On January 1, 2010, the
Q26: Mary Company purchased equipment on January 1,
Q27: When applying retrospective adjustments, current GAAP requires
Q28: Exhibit 23-5 Nan Company, having a
Q29: The Zack Company began its operations
Q30: Disclosure of a retrospective adjustment should include<br>A)why