Anzelmo Corporation invested in Jones Manufacturing by purchasing a 10% interest in the company.Anzelmo had no significant influence in Jones.Over time,Anzelmo acquired more shares in Jones,and in 2016,Anzelmo's president became a member of the board of directors when its ownership interest reached 30% of Jones.This change is ________.
A) an accounting principal change requiring retrospective adjustment
B) an accounting principal change requiring prospective adjustment
C) a correction of an error
D) an estimate change
Correct Answer:
Verified
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