What should occur when there is a change in accounting principle? A. The change should...
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Accounting
What should occur when there is a change in accounting principle?
A. The change should be reported retroactively.
B. The cumulative effect of the change should be reported in the current year's retained earnings statement.
C. The new principle should be used in reporting the results of operations of the current year, but there is no change to prior years.
D. The old principle should be used in reporting the results of operations for the current year.
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