Multiple Choice
Which of the following is not treated as a change in accounting policy?
A) A change from average cost 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 cost-recovery to percentage-of-completion
Correct Answer:
Verified
Correct Answer:
Verified
Q23: Companies report changes in accounting estimates retrospectively.
Q43: A company changes from straight-line to an
Q44: Which of the following is not a
Q45: A company changes from percentage-of-completion to cost-recovery,
Q47: Which type of accounting change should always
Q48: Companies account for a change in depreciation
Q50: Each of the following errors will overstate
Q51: Which of the following disclosures is required
Q52: Stone Company changed its method of pricing
Q60: Companies record corrections of errors from prior