Which of the Following Is Not a Retrospective-Type Accounting Change

question 8

Multiple Choice

Which of the following is not a retrospective-type accounting change?

• A) Completed-contract method to the percentage-of-completion method for long-term construction contracts
• B) LIFO method to the FIFO method for inventory valuation
• C) Sum-of-the-years'-digits method to the straight-line method
• D) "Full cost" method to another method in the extractive industry

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Definitions:

Rock Avalanche

High-velocity, turbulent flow of rock, sediment, and soil that results from the collapse of a steep mountain front.

Debris Slide

The downslope movement of soil, weathered sediment, or other unconsolidated material, partly as a sliding, coherent mass and partly by internal shearing and flow.

Rotational Slide

A type of landslide involving the rotational movement of rock or soil along a curved surface, typically caused by the undercutting of a slope or the saturation of soil.

Debris Avalanche

A high-velocity flow of soil, sediment, and rock, commonly from the collapse of a steep mountainside.