Which of the Following Is Accounted for as a Change

question 20

Multiple Choice

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

• 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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Definitions:

Anxiety Disorder

A mental health condition characterized by excessive fear, worry, or unease that interferes with daily activities.

Generalized Anxiety Disorder

A mental health disorder characterized by persistent and excessive worry about various aspects of daily life, often leading to significant distress or impairment.

Autonomic Arousal

The activation of the autonomic nervous system, which can manifest in physical responses such as increased heart rate or sweating, often as a reaction to stress or excitement.

Continually Tense

Experiencing steady and ongoing stress or tension without significant periods of relief or relaxation.