The change was accounted for prospectively

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Reference no: EM13966015

The company changed its method of accounting for long-term construction contracts, but management was justified in making the change. The new method is acceptable under GAAP and the change was accounted for prospectively.

Options:

1. Standard unqualified;

2. Modified unqualified;

3. Qualified;

4. Adverse;

5. Disclaimer;

6. Qualified or adverse;

7. Qualified or disclaimer;

8. Adverse or disclaimer.

Reference no: EM13966015

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