Business, 26.03.2020 01:51 Diegosolorzano50

Which of the following changes would not be accounted for using the prospective approach?
A. A change from application of the LCNRV rule from individual item costing to an aggregate costing approach.
B. A change from straight-line to double-declining balance depreciation.
C. A change to LIFO from average costing for inventories.
D. A change from double-declining balance to straight-line depreciation.

Answers: 3

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People often uses prospective approach in analysis. The changes that would not be accounted for using the prospective approach is that;

A change from application of the LCNRV rule from individual item costing to an aggregate costing approach.

The LCNRV rule is often used to inventory item, inventory class, or total inventory, and they can have different output.

A prospective study or approach is known to be a type of cohort study or group study where the participants are enlisted into the study before they create the disease or outcome in question.

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Answer from: Dweath50

Option A

Explanation:

Prospective approach is used for bring changes into accounts. In the LCNRV rule the accounting principle of lesser value of the stock is so that the amount sold can be mentioned as the net realizable value (NRV). Here the principle of using low cost of net realizable value is known as LCNRV. This cannot be changed using prospective approach.

Other changes such as the depreciation from straight line to double declining depreciation, LIFO from average costing for inventories and other change from double declining to straight line depreciation can be done with the prospective approach.

Answer from: Quest

i think the answer to your question is b. directive

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

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Which of the following changes would not be accounted for using the prospective approach?
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