Which of the Following Changes Should Be Accounted for Using

question 106

Multiple Choice

Which of the following changes should be accounted for using the retrospective approach?

• A)A change in the estimated life of a depreciable asset.
• B)A change from straight-line to declining balance depreciation.
• C)A change to the LIFO method of costing inventories.
• D)A change from the completed-contract method of accounting for long-term construction contracts.

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Definitions:

Social Facilitations

The enhancement of an individual's performance when in the presence of others, due to increased arousal and motivation.

Cohesion

The degree to which team members connect with each other.

Norms

Shared expectations and rules that guide behavior of people within social groups, organizations, or cultures.

Adjourning

The final stage in Tuckman's model of group development, characterized by the completion of task objectives and dissolution of the group structure.