Which of the Following Changes Would Be Disclosed as a Change

question 57

Multiple Choice

Which of the following changes would be disclosed as a change in accounting principle but reported by applying the new method retrospectively as restatements of prior periods?

• A)Change from completed-contract accounting to percentage of completion
• B)Change from the first-in, first-out method to the last-in, first-out method of inventory pricing
• C)Change in the composition of elements included in inventory
• D)Change from the straight-line method to an accelerated method of depreciation

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Definitions:

Therapeutic Relationship

The professional, collaborative connection between a therapist and a client, seen as a fundamental aspect of effective therapy.

Attractive Features

Characteristics or qualities that are appealing or desirable to others.

Proposal

A plan or suggestion, especially a formal or written one, put forward for consideration or discussion by others.

Serial Position Effect

is a psychological phenomenon where a person is more likely to remember the first and last items in a series better than those in the middle.