Which of the Following Would Not Be Accounted for as a Change

question 56

Multiple Choice

Which of the following would not be accounted for as a change in accounting principle?

• A) Change from the first-in, first-out method to the last-in, first-out method of inventory pricing
• B) Change from the last-in, first-out method to the first-in, first-out method of inventory pricing
• C) Change from completed-contract accounting to percentage-of-completion
• D) Change from straight-line method to accelerated method of depreciation

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Definitions:

Individuals Decision

The process by which a person comes to a conclusion and chooses a course of action from among various alternatives.

Rank Facts

The ordering of information based on its importance, relevance, or validity in a specific context.

Discrepancies

Differences or inconsistencies between compared elements, such as data points, perspectives, or actions.

Patterns

Recurring characteristics or events that can be identified through analysis and observation.