When a Change in Accounting Principle Occurs, the Balance of the Related

question 39

Multiple Choice

When a change in accounting principle occurs, the balance of the related asset or liability account is recalculated

• A)at the end of the current period
• B)when the decision is made to change
• C)at the beginning of the current period only
• D)at the beginning of the first period affected and reported in the financial statements

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