Question: A material effect from changing accounting principles should be reported a. as an extraordinary item. b. as a prior period adjustment. c. by including the

A material effect from changing accounting principles should be reported a. as an extraordinary item. b. as a prior period adjustment. c. by including the cumulative effect of the change as a separate line item in current income from continuing operations. d. by including the cumulative effect of the change on prior periods' earnings as a component of net income in the period of the change.

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