In Cases Where It Is Not Practicable to Determine the Effect

question 75

Multiple Choice

In cases where it is not practicable to determine the effect of applying a change in accounting principle to a prior period, GAAP requires

• A) the change to be made prospectively
• B) the change be made retrospectively to the earliest date practicable
• C) that comparative financial statements for the present year with and without the change in accounting principle be shown
• D) a and b

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