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
Correct Answer:
Verified
Q1: Which of the following does NOT represent
Q2: Which of the following concepts or principles
Q4: Which of the following is correct regarding
Q5: Which of the following changes in accounting
Q6: Which of the following is NOT correct
Q7: The cumulative effect on prior years' earnings
Q8: An example of an item that should
Q9: The correction of an error in the
Q10: Which of the following should be reported
Q11: The effect of a change in accounting
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