Classify each of the following accounting practices as conservative or aggressive. 1. Increase the allowance for uncollectible
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1. Increase the allowance for uncollectible accounts.
2. When costs are rising, change from LIFO to FIFO.
3. Change from declining-balance to straight-line depreciation in the second year of an asset depreciated over 20 years.
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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