Which of the Following Is a Change in Reporting Entity

question 16

Multiple Choice

Which of the following is a change in reporting entity?

• A)A change to the full cost method in the extractive industries.
• B)Switching to the completed contract method.
• C)A change from the cost to the equity method.
• D)Consolidating a subsidiary not previously included in consolidated financial statements.

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Definitions:

Price Decrease

A reduction in the cost of goods or services, often reflective of changes in supply and demand, competition, or production costs.

Personal Computers

Electronic devices designed for individual use, capable of executing a wide range of applications, from word processing and web browsing to gaming and programming.

Normal Good

A good for which demand increases as consumer income rises, and decreases as consumer income falls.

Income Increase

An income increase refers to a rise in the amount of earnings received by an individual or household, which can affect purchasing power and economic status.