Finer Foods, Inc., a chain of supermarkets specializing in gourmet food, has been using the average cost method to measure its inventory. During the current year, the company changed to the first-in, first-out method of inventory measurement. The president of the company reasoned that this change was appropriate because it would more closely match the flow of physical goods. This change should be reported on the financial statement as a
A. Change in an accounting principle.
B. Correction of an error.
C. Change in an accounting estimate.
D. Cumulative-effect type accounting change.

(A) Change in an accounting principle  

Explanation:

 According to the given question, the finer food Inc., is one of the company which using the average cost technique for measuring the inventory process.

So, the change made in the company is reported in the form of financial statement as change in an accounting principle of flow of the physical products.

The accounting change is the term which is used for reporting an entity and the estimating and evaluation the various types of asserts and liabilities in an organization.  

 Therefore, Option (A) is correct answer.  

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know