12. Company changes from LIFO to average cost for inventory is an example of: ...
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Accounting
| 12. Company changes from LIFO to average cost for inventory is an example of: | ||||||
| (a) change in estimate | ||||||
| (b) change in principle | ||||||
| (c) change in entity | ||||||
| (d) accounting errors. | ||||||
| 13. Dillon Company merges with Proven Company is an example of: | ||||||
| (a) change in estimate | ||||||
| (b) change in principle | ||||||
| (c) change in entity | ||||||
| (d) accounting errors. | ||||||
| 10. Below are the operating segments of a Howe Inc. (amounts in millions). | ||||||||||
| Auto | Motorcycles | RVs | Total | |||||||
| Revenues | $250 | $50 | $20 | $320 | ||||||
| Cost of goods sold | 150 | 30 | 10 | 190 | ||||||
| Gross profit | 100 | 20 | 10 | 130 | ||||||
| S&A Expenses | 80 | 14 | 6 | 100 | ||||||
| Assets | 4,250 | 2,450 | 300 | 7,000 | ||||||
| All corporate expenses have been eliminated from the S&A expenses.Based on the information above, which segments are reportable? | ||||||||||
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