Change in an accounting principle is accounted for O by a prior period adjustment. O by a retrospective application of a new accounting principle. O by constructive application of a new accounting principle. O prospectively.
Change in an accounting principle is accounted for O by a prior period adjustment. O by a retrospective application of a new accounting principle. O by constructive application of a new accounting principle. O prospectively.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 4C: When the FASB issues a new generally accepted accounting principle, it may require companies to...
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