Which of the Following,if Discovered by Somber Company in the Accounting

question 31

Multiple Choice

Which of the following,if discovered by Somber Company in the accounting period subsequent to the period of occurrence,requires the company to report the correction of an error?

• A) The estimate of the useful life of a depreciable asset should have been revised.
• B) Capitalization of an expense
• C) A change from declining-balance depreciation method to straight-line method
• D) Change in percentage of sales used for determining bad debt expense

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Definitions:

Marathon Training

A structured program of physical exercises and running practice aimed at preparing an individual to complete a marathon.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the members of the set diverge from the mean.

Z-Score

A statistical measure that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations from the mean.

Stockbrokers

Professionals who buy and sell stocks and other securities for clients in exchange for a fee or commission.