1. Which statement concerning accounting for accounting changes and errors is not true? an error is accounted for retroactively b) a change in accounting principle is accounted for prospectively c. a change in accounting principle may be accounted for retroactively d. a change in accounting estimate is accounted for prospectively The mandatory adoption of a new accounting principle as a result of a new FASB Statement requires a. footnote disclosure only b. a cumulative effect adjustment prospective adjustment d.) prior period adjustment