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Which an example of a change in accounting principle

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Reference no: EM132690288

Question 1: An example of a change in accounting principle that should be handled currently is a change from the

a. completed-contract method to the percentage-of-completion method for long-term contracts.

b. LIFO method to the FIFO method for inventory valuation.

c. sum-of-the-years'-digits method to the straight-line method.

d. "full cost" method to another method in the extractive industry.

Reference no: EM132690288

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