The Concept of Consistency Is Sacrificed in the Accounting for Which

question 25

Multiple Choice

The concept of consistency is sacrificed in the accounting for which of the following items?

• A)Cumulative effect of change in accounting principle
• B)Change is the estimated salvage value of an asset
• C)Loss on disposal of a segment of a business
• D)Discontinued operations

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Definitions:

Suppliers Availability

The readiness and ability of suppliers to provide the necessary goods and services as demanded by the purchasing organization.

Transportation Services

Services that include the movement of goods and people from one location to another using various modes of transport.

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including the services and facilities necessary for its economy to function, such as transportation and communication systems, water and power lines.

Fixed Costs

Expenses that do not change with the level of goods or services produced, such as rent, salaries, and equipment leases.