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Which gaap states that a company recognize

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Reference no: EM132708608

Problem 1: In situations where the change in accounting principle has both direct and indirect effects on prior years' income, GAAP states that a company recognize

a. the direct effect prospectively.
b. the direct effect and discuss the indirect effect in the notes to the financial statements.
c. only the indirect effect.
d. only the direct effect retrospectively.

Reference no: EM132708608

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