6. (TCO E) The four types of accounting changes, including error correction, are change in accounting principle; change in accounting estimate; change in reporting entity; and error correction. Required: The following are a series of situations. Indicate the type of change. 1 Change from presenting nonconsolidated to consolidated financial statements 2 Change in expected recovery of an account receivable 3 Change due to charging a new asset directly to an expense account 4 Change from expensing to capitalizing certain costs, due to a change in periods benefited 5 Change in both estimate and acceptable accounting principles 6 Change from FIFO to LIFO inventory procedures 7 Change due to failure to recognize an accrued (uncollected) revenue 8 Change in amortization period for an intangible asset 9 Change from straight-line to sum-of-the-years'-digits method of depreciation 10 Changing the companies included in combined financial statements 11 Change in the loss rate on warranty costs 12 Change due to failure to recognize and accrue income 13 Change in residual value of a depreciable plant asset 14 Change in life of a depreciable plant asset 15 Change due to understatement of inventory (Points : 15)