Which of the Following Would Be Treated as a Prior

question 53

Multiple Choice

Which of the following would be treated as a prior period adjustment by Gold Corporation in 2018?

• A)In 2018,it was discovered that Gold Corporation recorded the purchase of a warehouse in 2015 as a debit to Repairs Expense.
• B)In 2018,Gold Corporation switched from the straight-line method of depreciation to another method of computing depreciation.
• C)In 2018,Gold Corporation's management decided that the estimated useful life of its computer equipment should be changed from five years to nine years.
• D)In 2018,Gold Corporation sold a segment of the business that it has operated since 2009.

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Definitions:

Human Relations Model

A management approach emphasizing the importance of interpersonal relationships and employee morale in achieving organizational objectives.

Social Planning Model

A strategic approach to addressing social issues and problems through organized, participatory planning processes.

Radical Social Change

Profound and significant alterations in the structure and dynamics of society, often aiming at a drastic transformation in societal values and norms.

Asset-Based

An approach focusing on the strengths and assets of individuals, communities, or organizations rather than their deficits or problems.