Which of the Following Is a Change in an Accounting

question 39

Multiple Choice

Which of the following is a change in an accounting estimate?
I. A change from straight line depreciation to an accelerated depreciation method.
II. A change in estimated salvage value of depreciable asset.
III. A change in estimated useful life of an asset.
IV. Recording depreciation for the first time on machinery purchased five years ago.

• A) I, II, III and IV
• B) II, III and IV
• C) I, III and IV
• D) II and III

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Definitions:

Type A Personality

A temperament characterized by high levels of competitiveness, self-drive, impatience, and a sense of urgency.

Pharmaceutical Industry

The sector of health care that deals with the development, production, and marketing of drugs and medications.

Emotionality

The quality or state of being emotional; the degree to which someone experiences and expresses emotions.

Negative Emotions

Feelings that are typically experienced as unpleasant, such as sadness, anger, fear, and jealousy.