Which of the Following Is a Change in Policy

question 38

Multiple Choice

Which of the following is a change in policy?

• A)A company changes from the gross method to the net method of recording cash discounts.
• B)A change in the terms of a loan from repayment on demand to a fixed repayment date two years after the fiscal year-end.
• C)A contingency for a lawsuit that was evaluated to be likely to lead to an outflow of resources was ultimately resolved against the reporting entity.
• D)A temporary tax difference was treated as permanent tax difference.

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Definitions:

Grades

Evaluative scores or letters assigned to students' work to signify academic performance.

Lawn Mowing

The action of cutting the grass in a lawn using a machine or tool specifically designed for this purpose.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed, believed to be one of the underlying causes of depression.

Operant Conditioning

A learning process wherein the likelihood of a behavior's occurrence is increased or decreased through rewards or punishments.