International Accounting Standard 8 requires
a. a restatement of prior years' income for a change in accounting principle.
b. the reporting of the cumulative effect of a change in accounting principle as part of net income in the year of the change.
c. the reporting of the cumulative effect of a change in accounting principle as a direct adjustment to beginning retained earnings in the year of the change.
d. the amortization of the cumulative effect of a change in accounting principle over the future periods expected to be affected by the change.
C
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