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How should the effect of a change in accounting estimate be accounted for? A. By...

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Accounting

How should the effect of a change in accounting estimate be accounted for?

A. By retrospectively applying the change to amounts reported in financial statements of prior periods.

B. As a prior-period adjustment to beginning retained earnings.

C. By reporting pro forma amounts for prior periods.

D. By prospectively applying the change to current and future periods.

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