Which of the Following Is Accounted for as a Change

question 62

Multiple Choice

Which of the following is accounted for as a change in accounting principle?

• A) A change in the estimated useful life of plant assets.
• B) A change from the cash basis of accounting to the accrual basis of accounting.
• C) A change from expensing immaterial expenditures to deferring and amortizing them as they become material.
• D) A change in inventory valuation from average cost to FIFO.

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