A Change from the Straight-Line Method to the Sum-Of-Years'-Digits Method

question 15

Multiple Choice

A change from the straight-line method to the sum-of-years'-digits method of depreciation is handled as:

• A)A retrospective change back to the date of acquisition as though the current estimated life had been used all along.
• B)A cumulative adjustment to income in the current year for the difference in depreciation under the new vs.old useful life estimate.
• C)A prospective change from the current year through the remainder of its useful life.
• D)None of these is correct.

Understand the practices that build trust between supervisors and their employees.

Identify traits of good leadership and how supervisors can serve as effective role models.

Understand Maslow's hierarchy of needs and its application to human behavior and motivation.

Identify and describe the roles and definitions of a supervisor as per various acts and management theories.

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Definitions:

Downstream Costs

Costs incurred after the production phase, such as distribution and marketing expenses, as well as after-sales service costs.

Upstream Costs

Expenses incurred in the early stages of the production process, which can include exploration, development, and extraction in the oil and gas industry.

Inventory Valuation

The method used to calculate the cost of goods sold and ending inventory value for financial reporting.

Accounting Period

A specific period of time covered by accounting records and financial statements, usually a year or a quarter, used to measure financial performance.