When a company decides to switch from the double-declining balance method to the straight-line method, this change should be handled as a Question 55 options: a change in accounting estimate. b correction of an error. c change in accounting principle. d prior period adjustment.

When a company decides to switch from the double-declining balance method to the straight-line method, this change should be handled as a Question 55 options: a change in accounting estimate. b correction of an error. c change in accounting principle. d prior period adjustment.

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter2: Audits Of High-risk Accounts

Section2.2: Golden Bear Golf, Inc.

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Question

#55

When a company decides to switch from the double-declining balance method to the straight-line method, this change should be handled as a

Question 55 options:

a	change in accounting estimate.
b	correction of an error.
c	change in accounting principle.
d	prior period adjustment.

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