Shane Is Reading Through a Document That Has Comments from His

question 443

Multiple Choice

Shane is reading through a document that has comments from his editor.He needs to respond to one of the comments.He should do which of the following?

• A) Delete the comment.
• B) Resolve the comment.
• C) Reply to the comment.
• D) Accept the comment.

---

Definitions:

Changing Depreciation Methods

The process of altering the accounting method used to allocate the cost of a tangible asset over its useful life for financial reporting purposes.

Newly Acquired Assets

Newly acquired assets refer to assets that a company or individual has recently purchased or obtained, which can include equipment, property, or financial instruments.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by an independent organization, providing guidance on how to report financial events in a transparent and consistent manner globally.

GAAP

Generally Accepted Accounting Principles, a standardized set of accounting principles in the United States governing financial reporting and accounting.