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1. Which of the following represents a change in accounting principle? Multiple Choice Switching from a...

1. Which of the following represents a change in accounting principle?

Multiple Choice

  • Switching from a non-GAAP method to a GAAP method.

  • Adopting a new standard issued by FASB.

  • Adjusting the Cost of Goods Sold account for the difference between the inventory balance and the inventory on hand.

  • Changing from one GAAP depreciation method to another GAAP method.

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