Accounts Accounts Basics Multiple Choice questions on accounts basics Sub by ClassOf1

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									              Sub: Accounts                                                                  Topic: Accounts Basics

              Question:
              Multiple Choice questions on accounts basics

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              1.        When a change in accounting principle occurs

                        a.       prior years' financial statements should not be changed to reflect the newly
                                 adopted principle.

                        b.       the new principle should be used in reporting the results of operations of the
                                  current year.

           
								
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