Question
When a company changes from LIFO to another inventory method, the change is reported Multiple Choice as a change in an accounting estimate. prospectively because
When a company changes from LIFO to another inventory method, the change is reported
Multiple Choice
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as a change in an accounting estimate.
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prospectively because it is impractical to determine the effects of this change on prior years net income.
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as an error correction.
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using the retrospective approach.
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Principles Of Auditing: An International Perspective
Authors: Rick Stephan Hayes, Philip Wallage, Arnold Schilder, Roger Dassen
1st Edition
0077095324, 978-0077095321
