Which One of the Following Is a Change in Estimate

question 44

Multiple Choice

Which one of the following is a change in estimate effected by a change in an accounting principle?

• A) change in salvage value of an asset
• B) change in estimated life of an asset
• C) change from declining-balance to straight-line depreciation
• D) changes in pension plan asset revenues

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Definitions:

Creative Vision

involves the ability to imagine future possibilities and innovations that do not currently exist, guiding strategic direction and inspiring others.

Reward Power

The ability of a person to influence others by offering or withholding rewards.

Pay Raises

An increase in the wage or salary provided to an employee, often based on performance or market conditions.

Promotions

The act of advancing an employee to a higher position or rank within an organization, often accompanied by increased responsibilities and salary.