If a Cumulative Effect Type Accounting Change Is Made During

Multiple Choice

If a cumulative effect type accounting change is made during the first interim period of a year:

A) no cumulative effect of the change should be included in net income of the period of change.
B) the cumulative effect of the change on retained earnings at the beginning of the year should be included in net income of the first interim period.
C) the cumulative effect of the change should be allocated to the current and remaining interim periods of the year.
D) none of these.