Which of the Following Is NOT a Change in Accounting

question 19

Multiple Choice

Which of the following is NOT a change in accounting principle?

• A) A change from FIFO to LIFO for inventory valuation
• B) A change from eight years to five years in the useful life of a depreciable asset
• C) A change from completed-contracts to percentage-of-completion
• D) A change from double-declining-balance to straight-line depreciation

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Definitions:

Air Pollution

The presence of harmful or excessive quantities of substances in the air that pose risks to human health and the environment.

Octane Enhancer

A chemical additive used in fuel to increase its octane rating, thereby improving engine performance and efficiency.

Lead

A chemical element with the symbol Pb and atomic number 82, known for its use in batteries, bullets, and as a protective shielding against radiation.

Refuse Act

A federal law aimed at protecting navigable waters in the United States by prohibiting the discharge of refuse into these waters without a permit.