Which of the Following Changes Should Be Accounted for Using

question 49

Multiple Choice

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

• A)A change in the estimated useful life of a depreciable asset.
• B)A change from straight-line to double-declining-balance depreciation.
• C)A change from percentage-of-completion to the completed contract method.
• D)A change to LIFO from FIFO inventory costing.

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Definitions:

Canadian University

Higher education institutions located in Canada that offer undergraduate and graduate degrees in a variety of fields.

John Watson

A psychologist from America who founded the behaviorism school of psychology, which focuses on examining behaviors that are observable.

Governs Behaviour

Refers to principles or forces that influence or control actions and conduct.

Environment

The environment or situation where a human, animal, or plant exists or functions.