Question
Which of the following would be accounted for as a change in accounting principle? a. Adopting a new accounting standard b. Changing the useful life
Which of the following would be accounted for as a change in accounting principle?
| a. | Adopting a new accounting standard | |
| b. | Changing the useful life of a piece of equipment from 8 years to 20 years | |
| c. | First-time presentation of consolidated financial statements | |
| d. | Changing an estimate for the allowance for doubtful accounts |
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
