The Financial Statement Presentation of a Change in Depreciation Method

question 40

Multiple Choice

The financial statement presentation of a change in depreciation method is most similar to that of reporting:

• A)Changes in accounting estimates.
• B)Prior period adjustments.
• C)Correction of errors.
• D)Extraordinary items.

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Definitions:

Bundle

In economics, a combination of goods or services that is sold together as a single package, often for a price lower than the sum of the individual components.

Scones

Scones are a type of baked goods, originating from the United Kingdom, often lightly sweetened and served with tea.

Budget Constraint

An economic model representing all the combinations of goods and services that a consumer can afford with a fixed budget.

Budget Line

A graphical representation showing the combination of two goods that can be purchased with a specific budget at set prices.