When A Change In Accounting Policy Occurs: A. The New Policy Should Only Be Adjusted Prospectively B. The Cumulative Effect Of The Change In Policy Should Be Reflected On The Income Statement As Of The Beginning Of The Next Year. C. Nothing Should Be Done. D. The New Policy Should Be Adjusted Retrospectively
When a change in accounting policy occurs:
a.
the new policy should only be adjusted prospectively
b.
the cumulative effect of the change in policy should be reflected on the income statement as of the beginning of the next year.
c.
nothing should be done.
d.
the new policy should be adjusted retrospectively
