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18 Questions  I  By Deltzx301
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1.    37.     An example of a correction of an error in previously issued financial statements is a change
A.
B.
C.
D.
2.    40.     If, at the end of a period, a company erroneously excluded some goods from its ending inventory and also erroneously did not record the purchase of these goods in its accounting records, these errors would cause
A.
B.
C.
D.
3.    31.     Which of the following is (are) the proper time period(s) to record the effects of a change in accounting estimate?
A.
B.
C.
D.
4.    38.     Counterbalancing errors do not include
A.
B.
C.
D.
5.    36.     Presenting consolidated financial statements this year when statements of individual companies were presented last year isa. 
A.
B.
C.
D.
6.    26.     Which of the following disclosures is required for a change from sum-of-the-years-digits to straight-line?
A.
B.
C.
D.
7.    25.     A company changes from straight-line to an accelerated method of calculating depreciation, which will be similar to the method used for tax purposes. The entry to record this change should include a
A.
B.
C.
D.
8.    21.     Accounting changes are often made and the monetary impact is reflected in the financial statements of a company even though, in theory, this may be a violation of the accounting concept of
A.
B.
C.
D.
9.    32.     When a company decides to switch from the double-declining balance method to the straight-line method, this change should be handled as a
A.
B.
C.
D.
10.    30.     Which type of accounting change should always be accounted for in current and future periods?
A.
B.
C.
D.
11.    28.     Which of the following disclosures is required for a change from LIFO to FIFO?
A.
B.
C.
D.
12.    29.     Stone Company changed its method of pricing inventories from FIFO to LIFO. What type of accounting change does this represent?
A.
B.
C.
D.
13.    35.     Which of the following describes a change in reporting entity?
A.
B.
C.
D.
14.    24.     Which of the following is accounted for as a change in accounting principle?
A.
B.
C.
D.
15.    27.     A company changes from percentage-of-completion to completed-contract, which is the method used for tax purposes. The entry to record this change should include a
A.
B.
C.
D.
16.    23.     Which of the following is not a retrospective-type accounting change?
A.
B.
C.
D.
17.    34.     Which of the following statements is correct?
A.
B.
C.
D.
18.    22.     Which of the following is not treated as a change in accounting principle?
A.
B.
C.
D.
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