Câu 85: CPA Test: Certified Public Accountant Test: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, Regulation
During 1994, Orca Corp. decided to change from the FIFO method of inventory valuation to the weightedaverage method. Inventory balances under each method were as follows: Orca's income tax rate is 30%.Orca should report the cumulative effect of this accounting change as a(n):
Nội dung câu hỏi
During 1994, Orca Corp. decided to change from the FIFO method of inventory valuation to the weightedaverage method. Inventory balances under each method were as follows: Orca's income tax rate is 30%.Orca should report the cumulative effect of this accounting change as a(n):
Các lựa chọn
Đáp án được giữ gọn theo nhãn A, B, C, D trong phần bình chọn tương tác.
- A. Adjustment to beginning retained earnings. — đáp án hiện tại
- B. Component of income from continuing operations.
- C. Extraordinary item.
- D. Component of income after extraordinary items.
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