Could you please answer this question?

I am in a hurry a little bit, so fast answer would be appreciated!

Thank you!

Question 3 (1 point) Kevin, an audit associate at your firm, Stanford and Poor LLP, is reviewing accounting changes. Which of the following statements is correct? Under ASPE, a company may account for a change in its revenue recognition policy prospectively if the financial data needed to determine the impact on previous periods is readily available. If a company changes any of its accounting policies, it should include a note to the financial statements indicating the effect of the change on the current period and prior periods, but a description of the change is not required. If a company decides to change the amortization period of kitchen equipment from three years to five years because the equipment is lasting longer than originally intended, this change should be accounted for retrospectively. A company can account for changes in accounting policies prospectively if the change is required by a primary source of GAAP that permits or requires prospective application. Question 4 (1 point) Which item will be presented on the "investing section" of the cash flow statement? Proceeds from sale of equipment. Proceeds from sale of sale of inventory. Proceeds from sale of preferred shares. Net investment in property, plant and equipment