Which One of the Following Statements Is Not Correct

question 67

Multiple Choice

Which one of the following statements is not correct?

• A)A change from an inappropriate accounting principle to a proper one should be accounted for as an accounting error.
• B)Use of straight-line depreciation gives a higher total expense than accelerated methods over the total useful life of the asset.
• C)Assets purchased on the 14th of the month may be depreciated from the first of the month for practical reasons.
• D)Depreciation accounting is a process of allocation of periodic expense, rather than one of asset valuation.

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Definitions:

Profile-Of-A-Surface Tolerance

Profile-of-a-surface tolerance is a geometric dimensioning and tolerancing specification controlling the 3D shape and variation of a surface across its entire extent.

Form

Refers to the shape, structure, or visible configuration of an object.

Size

The physical dimensions or magnitude of an object or part.

Profile-Of-A-Surface Tolerance

A geometric dimensioning and tolerancing specification that controls the form, orientation, and location of surfaces across the entire feature.