A change in accounting principle that is implemented in 20X1 with full retrospective effect will result in which of the following, as reported in the financial statements presented in the 20X1 annual report? rev: 09_28_2021_QC_CS-279429

Multiple Choice Net income for 20X0 that is likely different from the amount originally reported for 20X0. All of these answers are correct. Net income for 20X1 that is determined under the same accounting method as the 20X0 amount (in the 20X1 report). Financial statements in 20X1 as if the company had always used the new accounting method.