All of the Following Would Be Reported Retrospectively by Restating

question 34

Multiple Choice

All of the following would be reported retrospectively by restating prior period's financial results except

• A) change from the completed-contract method to the percentage-of-completion method for long-term construction contracts.
• B) correction of an error in previous periods.
• C) change from LIFO to FIFO.
• D) change from the straight-line depreciation method to the sum-of-the-years'-digits method.

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Definitions:

Narcissism

A personality characteristic marked by an exaggerated belief in one's own importance and a profound desire for esteem and focus.

Self-disclosure

The process of disclosing one's own personal details to other individuals, which may enhance connections and promote closeness.

Ostracism

The act of ostracizing or barring someone from participation in a community or group.

Narcissism

A personality trait characterized by a grandiose sense of self-importance, a need for excessive admiration, and a lack of empathy for others.