Which of the Following Is a Change in Policy

question 17

Multiple Choice

Which of the following is a change in policy?

• A)Inventory was sold below carrying amount even though the inventory had been previously written down to lower of cost and net realizable value.
• B)A company changes from the cost model to the revaluation model of measuring the value of land.
• C)Development costs were capitalized when only five of six criteria for capitalization had been satisfied.
• D)The company miscalculated the weighted average number of ordinary shares outstanding because it used the wrong date for a share issuance.

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Definitions:

Hierarchy of Effects

A model describing the stages a consumer passes through in the process from unawareness of a brand to purchasing it, including awareness, interest, desire, and action.

Interest Stage

A phase in the consumer decision process where individuals develop an interest in a product or service after becoming aware of it.

Awareness Stage

The initial phase in the buying process where potential customers first become aware of a product or service.

Consumer Development Stage

A phase in the consumer lifecycle where individuals or groups evolve in their purchasing patterns and preferences.