Multiple Choice
Which of the following is accounted for as a change in accounting principle?
A) A change in the estimated useful life of plant assets.
B) A change from the cash basis of accounting to the accrual basis of accounting.
C) A change from expensing immaterial expenditures to deferring and amortizing them as they become material.
D) A change in inventory valuation from average cost to FIFO.
Correct Answer:
Verified
Correct Answer:
Verified
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