Câu 81: CPA Test: Certified Public Accountant Test: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, Regulation

Lore Co. changed from the cash basis of accounting to the accrual basis of accounting during 1994. The cumulative effect of this change should be reported in Lore's 1994 financial statements as a:

1. A. Prior period adjustment resulting from the correction of an error. — đáp án hiện tại
2. B. Prior period adjustment resulting from the change in accounting principle.
3. C. Component of income before extraordinary item.
4. D. Component of income after extraordinary item.