(TCO E) Which of the following is accounted for as a change inaccounting princip

(TCO E) Which of the following is accounted for as a change inaccounting principle?A change in inventory valuation from average cost to FIFOA change from the cash basis of accounting to the accrual basis ofaccountingA change in the estimated useful life of plant assetsA change from expensing immaterial expenditures to deferring andamortizing them as they become material2. (TCO E) What type of accounting change/correction should alwaysbe accounted for in the current and future accounting periods?Change in accounting principleChange in reporting entityChange in accounting estimateCorrection of an error