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Accounting Principles
?
National Hoopla Company switches from sum-of-the-years’ digits depreciation to straight- line depreciation. As a result:
Current income tax payable increases.
The cumulative effect decreases current period earnings.
Prior periods’ financial statements are restated.
None of these answer choices are correct.
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (D)
None of these answer choices are correct.
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