Calculate the balance for every line item in the statement

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Reference no: EM132662091

If a company wants to preserve comparability across years after a change to an accounting principle, what should they do?

Problem a. Make an adjustment to retained earnings for the current year only.

Problem b. Recalculate the balance for every line item in the statement of financial position for previous periods.

Problem c. Adjust each of the individual accounts that were affected by the change for the current year only.

Problem d. Recalculate the appropriate line items on the income statement for previous periods.

Reference no: EM132662091

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