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When Reporting a Change in an Accounting Principle,the General Rule

Question 107

Multiple Choice

When reporting a change in an accounting principle,the general rule requires that the current year's income from continuing operations reflect


A) use of the newly adopted principle for the current year recognition.
B) use of the old principle for the current year recognition.
C) management's choice of either the old or newly adopted principle for the current year recognition.
D) FASB's designation of either the old or newly-adopted principle based on the item being changeD.

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