Which of the Following Changes in Accounting Principle Does Not

question 17

Multiple Choice

Which of the following changes in accounting principle does not require the retrospective approach?

• A) Change from the percentage-of-completion to the completed-contract method
• B) Change of inventory method from LIFO to FIFO
• C) Change of inventory method from FIFO to LIFO
• D) All of these require retroactive adjustment.

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