2/22/2021 Q8-Accounting Changes (page 8 of 30)

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Question 8
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How should the effect of a change in accounting estimate be accounted for?

Select one:
a. In the period of change and future periods if the change affects both
b. By restating amounts reported in financial statements of prior periods
c. As a prior period adjustments to beginning retained earnings
d. By reporting pro forma amounts for prior periods

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