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Under U . S . GAAP, when can companies record a change in principle? Only when FASB has issued a new rule that required the

Under U

.

.

GAAP, when can companies record a change in principle?

Only when FASB has issued a new rule that required the change

Only when the company can justify the change as preferable to current treatment

Companies should not record these changes due to the confusion it causes investors.

Only to correct an error in previously issued financial statements

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