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Which requires an adjustment to the opening balance

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Reference no: EM132810024

Problem 1: Which of the following requires an adjustment to the opening balance of retained earnings in the earliest period of the comparative financial statements presented?

Group of answer choices

A. A change in the estimated useful life of machinery.

B. A change in the expected residual value of a property

C. A change from straight line to declining balance depreciation.

D. A change from first-in, first out (FIFO) to weighted average inventory cost flow assumption

Reference no: EM132810024

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