Which of the Following, If Discovered by James Company in the Accounting

question 12

Multiple Choice

Which of the following, if discovered by James Company in the accounting period subsequent to the period of occurrence, requires the company to report the correction of an error?

• A) The estimate of the useful life of a depreciable asset should have been revised.
• B) A change from declining-balance depreciation method to straight-line method
• C) Capitalization of an expense
• D) Change in percentage of sales used for determining bad debt expense

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Definitions:

Society

A structured community of people bound together by similar traditions, institutions, or nationality.

Mental Disorder

A mental disorder is a condition that affects a person's thinking, feeling, behavior, or mood, significantly impacting daily functioning and quality of life.

Cultures

refer to the collective customs, arts, social institutions, and achievements of a particular nation, people, or other social group.

PTSD

Post-Traumatic Stress Disorder, a mental health condition triggered by experiencing or witnessing a terrifying event, characterized by flashbacks, nightmares, severe anxiety, and uncontrollable thoughts about the event.