The Effects for a Change in Accounting Principle Would Usually

question 92

Multiple Choice

The effects for a change in accounting principle would usually be reported on the face of the income statement for a change:

• A) From the straight-line method of depreciation to the declining-balance method.
• B) From presenting statements for errors which effect only one of the financial statements.
• C) In the service lives of depreciable assets.
• D) In the residual value of a depreciable asset.
• E) None of these choices are correct.

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Definitions:

Strengths

Aspects of an entity, be it an individual, team, project, or system, that represent positive attributes or competitive advantages.

Limitations

Constraints or restrictions that affect the scope, validity, or generalizability of research findings.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating how much the numbers in the dataset deviate from the mean average.

Variance

A measure of the dispersion, indicating how much the values in a dataset differ from the mean.