For each of the following items, indicate the type of accounting change. (a1) (a) (b) (c) (d) (e) (f) (g) Change from the straight-line method of depreciation to the sum-of-the-years-digits Change from the cash basis to the accrual basis of accounting Change from FIFO to LIFO method for inventory valuation purposes (retrospective application impractical) Change from presentation of statements of individual companies to presentation of consolidated statements Change due to failure to record depreciation in a previous period Change in the realizability of certain receivables Change from LIFO to FIFO method for inventory valuation purposes Save for Later Change in accounting estimate Change in accounting entity Change in accounting principle Correction of an error Attempts: 0 of 1 used Submit Answer

For each of the following items, indicate the type of accounting change. (a1) (a) (b) (c) (d) (e) (f) (g) Change from the straight-line method of depreciation to the sum-of-the-years-digits Change from the cash basis to the accrual basis of accounting Change from FIFO to LIFO method for inventory valuation purposes (retrospective application impractical) Change from presentation of statements of individual companies to presentation of consolidated statements Change due to failure to record depreciation in a previous period Change in the realizability of certain receivables Change from LIFO to FIFO method for inventory valuation purposes Save for Later Change in accounting estimate Change in accounting entity Change in accounting principle Correction of an error Attempts: 0 of 1 used Submit Answer

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter14: Completing A Quality Audit

Section: Chapter Questions

Problem 27CYBK

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