Question: Identify the true statement regarding changes in accounting principles. A : They are allowed when new principles are preferable to old principles. B : They

Identify the true statement regarding changes in accounting principles.

A : They are allowed when new principles are preferable to old principles.

B : They are not reported retroactively.

C : They should be used to improve the financial position of the company.

D : They are only reported in the current period.

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