Retained Earnings Would Require Adjustment for Each of the Following

question 1

Multiple Choice

Retained earnings would require adjustment for each of the following except:

• A)a change in depreciation method from declining balance to straight-line.
• B)a decrease in the estimated useful life of an asset.
• C)discovering that an estimate for bad debt expense was not made last year.
• D)changing from the direct write-off method of accounting for bad debts to the allowance.method.

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Definitions:

Diplomonads

Small, mostly parasitic excavates with one or two nuclei, no functional mitochondria, and one to four flagella.

Excavates

Flagellated unicellular protists, many of which have a deep (excavated) oral groove; include diplomonds, parabasilids, and euglenoids.

Golden Algae

A type of algae, typically found in freshwater and saltwater environments, known for its unique golden-brown color due to the pigment fucoxanthin.

Biflagellate

Organisms, often cells of algae or protozoa, that possess two flagella used for movement.