A Change from Moving Weighted Average to FIFO Reporting Is

question 13

Multiple Choice

A change from moving weighted average to FIFO reporting is

• A)A change that results in a discontinued operation
• B)A change in accounting principle and is allowed if it improves the usefulness of information in the financial statements
• C)Not allowed once an inventory costing method has been chosen
• D)Allowed if it improves the usefulness of information in the financial statements
• E)A change in accounting principle and is not allowed even if it improves the usefulness of information in the financial statements

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Definitions:

Acquired Immunodeficiency

Acquired immunodeficiency is a condition characterized by the progressive failure of the immune system, often resulting from infection with specific viruses like HIV.

AIDS

is an advanced stage of HIV infection where the immune system is severely compromised, making the body more vulnerable to infections and diseases.

SCID

Severe Combined Immunodeficiency, a genetic disorder characterized by a severely compromised immune system, making individuals highly susceptible to infections.

MHC Incompatibility

A condition where the Major Histocompatibility Complex antigens between two individuals are so different that it can lead to rejection of transplanted tissues or organs.