Which of the following is not an example of a change in accounting principle?
A) A change in the useful life of a depreciable asset.
B) A change from LIFO to FIFO for inventory costing.
C) A change to the full costing method in the extractive industries.
D) A change from the cost method to the equity method of accounting for investments.
Correct Answer:
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Q2: When a change in accounting principle is
Q5: A change in accounting estimate and a
Q16: An accounting change that is reported by
Q18: Regardless of the type of accounting change
Q23: Companies should report the cumulative effect of
Q24: The cumulative effect of most changes in
Q25: Prior years' financial statements are restated under
Q27: Which of the accounting changes listed below
Q27: If a change is made from straight-line
Q39: When an accounting change is reported under
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