Which of the following should be reported as a change in accounting estimate? a) Change in the
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Question:
Which of the following should be reported as a change in accounting estimate?
a) Change in the reported beginning inventory amount due to a discovery of a bookkeeping error
b) Change from the completed-contract method to the percentage-of- completion method for revenue recognition on long-term construction contracts
c) Increase in the rate applied to net credit sales from 1 percent to 1-1/2 percent in determining losses from uncollectible receivables
d) Change made to comply with a new FASB pronouncement
Related Book For
Governmental and Nonprofit Accounting Theory and Practice
ISBN: 978-0133799569
11th edition
Authors: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott
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