A Change in the Amortization Rate for an Intangible Asset

question 67

Multiple Choice

A change in the amortization rate for an intangible asset should be accounted for as a

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

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Definitions:

Great Awakening

A series of religious revivals in the American colonies in the 18th century, emphasizing personal faith and emotional involvement in religion.

Plantation Gentry

A social class in the antebellum South, consisting of wealthy landowners who owned plantations operated primarily by enslaved people.

Geography

The study of places and the relationships between people and their environments, focusing on the physical properties of the Earth's surface and the human societies spread across it.

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Superiority or control over sea routes and maritime activities, often achieved through a country's powerful navy or a significant merchant marine force.