Which of the following is not a retrospective-type accounting change? A. Cost recovery method to the percentage of completion method for construction contracts. B. Weighted average to FIFO for inventory valuation. C. “Full cost method” to “successful effort method” in the extractive industry. D. Percent of sales method to aging method in recognizing doubtful accounts.
Which of the following is not a retrospective-type accounting change? A. Cost recovery method to the percentage of completion method for construction contracts. B. Weighted average to FIFO for inventory valuation. C. “Full cost method” to “successful effort method” in the extractive industry. D. Percent of sales method to aging method in recognizing doubtful accounts.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter14: Completing A Quality Audit
Section: Chapter Questions
Problem 27CYBK
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Which of the following is not a retrospective-type accounting change?
A. Cost recovery method to the percentage of completion method for construction contracts.
B. Weighted average to FIFO for
C. “Full cost method” to “successful effort method” in the extractive industry.
D. Percent of sales method to aging method in recognizing doubtful accounts.
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