Listed Below Are Five Terms Followed by a List of Phrases

Multiple Choice

Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Prior period adjustment

A) Allocation of cost for plant and equipment.
B) Is a change in accounting estimate.
C) Results from subsequent year correction of a material error.
D) Expenditures made to maintain a given level of benefits from an asset.
E) Generate declining amounts of depreciation over time.