At the Time Hollywood Corporation Became a Subsidiary of Vine

question 43

Multiple Choice

At the time Hollywood Corporation became a subsidiary of Vine Corporation,Hollywood switched depreciation of its plant assets from the straight-line method to the sum-of-the-years'-digits method used by Vine.With respect to Hollywood,this change was a

• A) change in an accounting estimate.
• B) correction of an error.
• C) change in the reporting entity.
• D) change in accounting principle.

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Definitions:

Oral Agreement

A contract or agreement made through spoken communication rather than written, legally binding if it meets certain criteria.

Contract Discharge

The termination of a contract's obligations, which can occur through various means such as performance, agreement, or breach.

Art Show

An exhibition or display of artworks in a gallery or venue where artists can present their works to the public and potentially sell them.

Prestigious

Describes something or someone that is highly respected and admired for being successful or of high quality.