Which of the following would not be accounted for using the retrospective approach?
A) A change from LIFO to FIFO inventory costing.
B) A change in accounting for long-term construction contracts by recognizing revenue over time rather than when the contract is completed.
C) A change in depreciation methods.
D) A change from the equity method of accounting for investments.

Question

Quizplus · Accepted Answer

The Answer of Which of the following would not be accounted for using the retrospective approach?
A) A change from LIFO to FIFO inventory costing.
B) A change in accounting for long-term construction contracts by recognizing revenue over time rather than when the contract is completed.
C) A change in depreciation methods.
D) A change from the equity method of accounting for investments.

Which of the Following Would Not Be Accounted for Using