Which of the Following Changes Would Not Be Accounted for Using

question 96

Multiple Choice

Which of the following changes would not be accounted for using the prospective approach?

• A) A change to LIFO from average costing for inventories.
• B) A change from application of the LCNRV rule from individual item costing to an aggregate costing approach.
• C) A change from straight-line to double-declining balance depreciation.
• D) A change from double-declining balance to straight-line depreciation.

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Definitions:

Deming's '14 Points'

A set of management practices introduced by W. Edwards Deming to help organizations increase quality and productivity.

ISO 9000 Certification

A family of standards for quality management systems that is designed to help organizations ensure they meet the needs of customers and other stakeholders.

Rigorous Assessment

A thorough and detailed evaluation process to accurately measure or analyze a particular aspect, condition, or set of data.

Quality Upgrade

A quality upgrade involves improving the standard and performance of a product, service, or process, striving for higher efficiency, reliability, and customer satisfaction.