Which of the Following Is Not an Example of a Change

question 81

Multiple Choice

Which of the following is not an example of a change in accounting principle?

• A)A change in the useful life of a depreciable asset.
• B)A change from LIFO to FIFO for inventory costing.
• C)A change to the full costing method in the extractive industries.
• D)A change from the cost method to the equity method of accounting for investments.

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Definitions:

Turkey Sandwich

A sandwich typically made with slices of turkey among other ingredients such as lettuce, tomato, and mayonnaise, often served on bread.

Parasympathetic Nervous System

The division of the autonomic nervous system that brings the heightened bodily responses back to normal following an emergency.

General Adaptation Syndrome

A three-stage response that the body uses to respond to stress, consisting of alarm, resistance, and exhaustion phases.

Resources

Assets, materials, or substances that are available and useful in achieving goals or completing tasks.