Multiple Choice
Which of the following is not an example of a change in accounting principle?
A) A change in the useful life of a depreciable asset.
B) A change from LIFO to FIFO for inventory costing.
C) A change to the full costing method in the extractive industries.
D) A change from the cost method to the equity method of accounting for investments.
Correct Answer:
Verified
Correct Answer:
Verified
Q28: When an accounting change is reported under
Q62: After issuing its financial statements, a company
Q76: In 2016,management discovered that Dual Production had
Q77: Nash Industries changed its method of accounting
Q78: Due to an error in computing depreciation
Q80: Gore Inc.recorded a liability in 2016 for
Q82: Buckeye Company purchased a machine on January
Q83: Early in 2016,Benton Well Supplies discovered that
Q84: Indicate the nature of each of the
Q85: FIFA Footballs acquired a patent in 2013