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The modified retrospective approach requires: Multiple Choice a modification of prior years financial statements. a journal entry to adjust account balances in the beginning of

The modified retrospective approach requires:

Multiple Choice

a modification of prior years financial statements.

a journal entry to adjust account balances in the beginning of the year of change.

both a modification of prior years financial statements and a journal entry to adjust account balances in the beginning of the year of change.

neither a modification of prior years financial statements nor a journal entry to adjust account balances in the beginning of the year of change.

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