Which of the Following Is a Change in Accounting Principle

question 66

Multiple Choice

Which of the following is a change in accounting principle?

I. A change from LIFO to FIFO
II. A change in estimated salvage value of depreciable asset
III. A change from an accelerated depreciation method to straight-line depreciation
IV. Recording depreciation for the first time on machinery purchased five years ago

• A)I, II, III, and IV
• B)I, II, and III
• C)I, III, and IV
• D)I and III

Understand the fundamental principles of experimental design in psychological research.

Identify the roles and definitions of control and experimental groups within an experiment.

Recognize the importance and use of random assignment in experiments to minimize bias.

Differentiate between dependent and independent variables and their roles in research.

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Definitions:

Premium Approach

An approach in which the salesperson offers a prospect something as an inducement to buy.

Bulk Purchases

The act of buying goods or commodities in large quantities, often at a discount, mainly for commercial purposes.

Sales Approach

The sales approach is a strategy or method used by sales professionals to engage potential clients and persuade them to purchase a product or service.

Buyer

An individual or organization that makes a decision to purchase goods or services.