A Change in Accounting Principle Requires That the Cumulative Effect

question 8

Multiple Choice

A change in accounting principle requires that the cumulative effect of the change for prior periods be shown as an adjustment to:

• A) Beginning retained earnings of the earliest period presented
• B) Comprehensive income for the earliest period presented
• C) Stockholders' equity of the period in which the change occurred
• D) Net income of the period in which the change occurred

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Definitions:

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Individuals who have met specified educational and testing criteria to prove their qualifications in legal tasks and responsibilities.

NALA

An acronym for the National Association of Legal Assistants, which is a professional organization that represents the interests of paralegals and legal assistants.

Paralegal Association

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An undergraduate academic program that typically requires four years of full-time study to complete.