Which of the Following Would Not Be Accounted for Using

question 92

Multiple Choice

Which of the following would not be accounted for using the retrospective approach?

• A)A change from LIFO to FIFO inventory costing.
• B)A change from the completed contract method to the percent-of-completion method for long-term construction contracts.
• C)A change in depreciation methods.
• D)A change from the full cost method in the oil industry.

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Definitions:

Protists

Diverse group of eukaryotic microorganisms, which are not animals, plants, or fungi.

Pseudopodia

Temporary protrusions of the cell membrane in certain amoeboid cells, used for movement or ingesting nutrients.

Amoeba

A unicellular protist that moves by means of pseudopodia.

Locomotion

The ability or act of moving or traveling from one place to another, employing various mechanisms across different species.