Matching The four types of accounting changes, including error correction, are: Code a. Change in accounting principle. b. Change in accounting estimate. c. Change in reporting entity. d. Error correction. Instructions Following are a series of situations. You are to enter a code letter to the left to indicate the type of change. 1. Change from presenting nonconsolidated to consolidated financial statements. 2. Change due to charging a new asset directly to an expense account. 3. Change from FIFO to LIFO inventory procedures. 4. Changing the companies included in combined financial statements. 5. Change in the estimated expenditures due to warranty costs. 6. Change due to failure to recognize and accrue income. 7. Change in residual value or estimated life of a depreciable plant asset. 8. Change from an unacceptable to an acceptable accounting principle. 9. Change from one acceptable principle to another acceptable principle. 10. Change due to incorrectly including consigned inventory on the balance sheet