Assign the letters to the statements in the table.

2 A. Voluntary accounting policy change B. Involuntary accounting policy change C. Change in accounting estimate D. Correction of an error E. None of the above 20 points eBook 1. This is the first year the company has incurred costs for development of a new product. It was determined that an employee had been stealing 2. inventory from the warehouse and this was not discovered until after year-end. The fraud had been concealed by adjusting inventory records. 3. Management decided to use the average cost for inventory instead of FIFO. 4. The number of years used for straight-line amortization was changed from 10 to 12. 5. Management decided to early adopt the revised Handbook section for financial instruments. Print References