Multiple Choice
Which of the following should be reported as a change in accounting estimate?
A) change in the reported beginning inventory amount due to a discovery of a bookkeeping error
B) increase in bad debt rate applied to net sales
C) change from completed-contract method to the percentage-of-completion for revenue recognition
D) change made to comply with a new FASB pronouncement
Correct Answer:
Verified
Correct Answer:
Verified
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