Multiple Choice
Which of the following is not accounted for a change in accounting principle?
A) A change from LIFO to FIFO for inventory valuation
B) A change to a different method of depreciation for plant assets
C) A change from full-cost to successful efforts in the extractive industry
D) A change from the completed-contract to the percentage-of-completion method
Correct Answer:

Verified
Correct Answer:
Verified
Q27: Detailed guidance regarding the accounting and reporting
Q28: Match disclosures to situations.In the blank to
Q29: When a company changes an accounting principle,
Q30: Adoption of a new principle in recognition
Q31: Use the following information for questions 64
Q33: The estimated life of a building that
Q34: During 2014, a textbook written by
Q35: Companies account for a change in depreciation
Q36: Joseph Co. began operations on January 1,
Q37: Presenting consolidated financial statements this year when