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.

---

Definitions:

Dominion

Dominance or control over a particular area or domain, often relating to sovereignty.

American Workplace

The environment, culture, and practices of work within the United States, characterized by various employment laws, diversity, and evolving dynamics.

Ethics at Work

The moral principles and standards that govern the behavior of individuals and organizations in a professional environment.

Trusteeship Climate

A work environment where responsibilities are shared and employees feel accountable and trusted.