Salvage value bu sual Kors Timelet 146.43 Queston 24 An example of a correction of an error in previously issued financial staternents is a change tence Not yet answered Points out of 3.00 P Flag question Select one: O a. From the FIFO method of inventory valuation to the LIFO method b. In the service life of plant assets, based on changes in the economic environment O c. From the cash basis of accounting to the accrual basis of accounting d. From the LIFO method of inventory Valuation to the FIFO method Identify the approach for the type of accounting change indicated: Queston 25 Not yet answered Points out of 3.00 Flag question Select one: a. Change in Accounting Principle: Retrospectively b. Change in Accounting Estimate Retrospectively Oc Change in Depreciation Method: Retrospectively d. Change due to Accounting Error Prospectively Question 26 Failure to record which item is a counterbalancing (self-correcting) error? Not yet answered Points out of 3.00 Flag question Select one O a Common Stock Issuance O b. Depreciation c Accrued Revenue O d. Equipment Purchase