If a company changes a material accounting policy, which of the following statements are correct?
1 The notes to the financial statements should disclose the reason for the change and its effect.
2 The effect of the change should be disclosed in the current year’s income statement as an extraordinary item.
3 The opening balance of retained earnings should be adjusted if practicable, as if the change had been in effect
for previous periods.
4 In the financial statements for the current period, comparative figures for the previous period should be adjusted
to reflect the change.
A 1, 3 and 4
B 2, 3 and 4
C 1, 2 and 3
D 1, 2 and 4 A | 
发表于 2008-5-17 09:40
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