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Question(s) / Instruction(s):

An example of a correction of an error in previously issued financial statements is a change

a.    from the cash basis of accounting to the accrual basis of accounting.

b.   in the tax assessment related to a prior period.

c.    in the service life of plant assets, based on changes in the economic environment.

d.    from the FIFO method of inventory valuation to the LIFO method.

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