Which of the Following Disclosures Is Required for a Change

question 11

Multiple Choice

Which of the following disclosures is required for a change from sum-of-the-years-digits to straight-line?

• A)The cumulative effect on prior years, net of tax, in the current retained earnings statement
• B)Restatement of prior years' income statements
• C)Recomputation of current and future years' depreciation
• D)All of these are required.

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Definitions:

Financial Capital

The funds and resources available to a business for use in the production of goods or services, including investments, cash, and other assets.

Core Competencies

Fundamental strengths and strategic advantages of an organization or individual, which are central to its identity and performance.

Organisational Strengths

The unique resources, capabilities, or competencies that an organization possesses, which can be leveraged to achieve competitive advantage and fulfill its mission effectively.

SWOT Analysis

SWOT analysis is a strategic planning tool used to identify the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.