Sub: Accounts Topic: Accounts Basics Question: Multiple Choice questions on accounts basics ClassOf1 provides expert guidance to College, Graduate, and High school students on homework and assignment problems in Math, Sciences, Finance, Marketing, Statistics, Economics, Engineering, and many other subjects. 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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