Which of the Following Accounting Changes Should Not Be Accounted

question 33

Multiple Choice

Which of the following accounting changes should not be accounted for prospectively?

• A) The correction of an error.
• B) A change from declining balance to straight-line depreciation.
• C) A change from straight-line to declining balance depreciation.
• D) A change in the expected salvage value of a depreciable asset.

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Definitions:

Conceptual Ability

The mental capacity to think abstractly, solve problems, and understand complex ideas or systems.

Conceptualizing

The process of forming a general idea or understanding from specific examples or instances.

Organization's Mission

The fundamental purpose or aim of an organization that guides its actions, influences strategy, and shapes its culture.

Empowering

Relates to the process of giving individuals or groups more power and control over their lives or work, often leading to increased autonomy, confidence, and productivity.