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What various types of accounting changes and errors

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Question 1: Listed below are various types of accounting changes and errors. For each, explain what type of change it is and the accounting treatment for it.

1) Change due to understatement of inventory.______

2) Change from presenting unconsolidated to consolidated financial statements

3) Change from double-declining-balance method to straight-line method of depreciation.

4) Change from FIFO to average-cost inventory method

5) Change in the amortization period for a trademark.

Reference no: EM132508464

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