Question: A change in accounting principle that is implemented using the modified retrospectiveapproach includes:A ) implementing the change in the current period only and not adjusting

A change in accounting principle that is implemented using the modified retrospectiveapproach includes:A

)

implementing the change in the current period only and not adjusting for thecumulative effects on prior periods.B

)

applying the new standard to the adoption period only, and recording the cumulativeadjustment for prior periods to the current period's beginning balance of retained

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