Question: True/False - Multiple Choice (10 Points) 1. When a contract modification is treated as a separate performance obligation or prospectively, the same amount of revenue

True/False - Multiple Choice (10 Points) 1. When a contract modification

True/False - Multiple Choice (10 Points) 1. When a contract modification is treated as a separate performance obligation or prospectively, the same amount of revenue is recognized before and after the modification. 2. When a company changes an accounting principle, it should report the change by reporting the cumulative effect of the change in the current year's income statement

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