Which One of the Following Statements Is Not Correct

question 113

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) Assets purchased on the 14^th of the month may be depreciated from the first of the month for practical reasons.
• C) Depreciation accounting is a process of allocation of periodic expense, rather than one of asset valuation.
• D) Use of straight-line depreciation gives a higher total expense than accelerated methods over the total useful life of the asset.

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Definitions:

Decentralized

A system of management or governance that distributes power away from a central authority and more towards individual units or locations.

Downsizing

The planned reduction of a company's workforce to improve efficiency, reduce costs, or become more competitive.

Productivity

The efficiency at which a person, company, or system can convert inputs into useful outputs.

Self-Managing Team

A group of workers who manage their daily duties under little to no supervision.