Which of the Following Is an Accounting Error

question 3

Multiple Choice

Which of the following is an accounting error?

• A)A company changes from the gross method to the net method of recording cash discounts.
• B)A private corporation previously using ASPE chooses to adopt IFRS.
• C)Costs not related to the construction of a building were included in the building cost.
• D)A patent was expected to provide protection of intellectual property for the full legal life of 20 years, but technological advances made the patent obsolete after only 12 years.

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Definitions:

Swollen

Engorged or enlarged as a result of inflammation or accumulation of fluid.

STAT Medication

Prescribed drugs that are to be given immediately and only once in a medical emergency situation.

Route Of Administration

The path by which a drug, fluid, poison, or other substance is taken into the body, such as orally, intravenously, or topically.

Relaxation Therapy

A range of techniques aimed at reducing stress and promoting physical and mental well-being, such as meditation or deep-breathing exercises.