When a company changes from the straight-line method of depreciation for previously recorded assets to the double-declining balance method, which of the following should be used according to SFAS 154?
align=”left”>
|
Cumulative effects of change in accounting principle |
Retrospective application |
|
|
a. |
No |
No |
|
b. |
No |
Yes |
|
c. |
Yes |
Yes |
|
d. |
Yes |
No |