Which of the Following Is NOT Considered to Be a Change

question 27

Multiple Choice

Which of the following is NOT considered to be a change in accounting policy?

• A) changing from weighted average to FIFO for valuing inventories
• B) initial adoption of a new accounting standard
• C) reclassifying items on the financial statements of prior periods to make the statements more comparable
• D) changing from the cost basis to the fair value model for measuring investments

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Definitions:

Ligaments

Tough, elastic bands of tissue that connect bones or cartilage, providing support and limiting movement.

Tenodesis

A surgical procedure to attach the end of a tendon to a bone.

Malignant Tumor

A cancerous growth that can invade and destroy surrounding tissue and has the potential to spread to other parts of the body.

Muscle Tissue

Specialized tissue in animals that is capable of contraction, allowing for movement of the body or internal organs.