Adjusting Entries That Reflect a Change in Accounting Principle Used

question 14

Multiple Choice

Adjusting entries that reflect a change in accounting principle used to value inventories are classified as

• A)corrections.
• B)estimates.
• C)deferrals.
• D)revaluations.

---

Definitions:

Dialog Boxes

Dialog boxes are small windows that appear in a graphical user interface to communicate information to the user and prompt for a response.

Right Margin

The space on the right side of a page or text block that defines the limit for text or printed material in a document.

ENTER Key

A keyboard key used to input a command, such as submitting data or moving to a new line in text editing environments.

Potential Error

A mistake or fault that could occur under certain conditions during the execution of a task or program.