Final answer:
Changing from current value to historical cost in accounting for plant assets is a Change in an accounting principle, as it involves shifting the valuation method for assets on financial statements.
Step-by-step explanation:
Changing from the current value approach to the historical cost approach in accounting for plant assets is classified as A. Change in an accounting principle. This is because it reflects a shift in the method of accounting, altering the way assets are valued on the financial statements.
An accounting principle is a general rule or guideline that companies follow when reporting financial data. Historical cost is based on the actual transaction value when an asset was acquired, whereas current value reflects the asset's value on the reporting date, taking into account factors like market conditions and depreciation.
The change from the current value approach to the historical cost approach in accounting for plant assets is considered a change in an accounting principle. The current value approach values assets based on their fair market value, while the historical cost approach values assets based on their original cost.
Therefore, the correct answer is A. Change in an accounting principle.