question archive Accounting for a retrospective change requires a) reissuing all prior financial statements affected by the change
Accounting for a retrospective change requires a) reissuing all prior financial statements affected by the change
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Accounting for a retrospective change requires
a) reissuing all prior financial statements affected by the change.
b) adjusting the ending balance of retained earnings for the current year.
c) reporting the "catch-up" adjustment on the current income statement.
d) adjusting the opening balance of each effected component of equity for the current year.
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