b . the new principle should be used in reporting the results of operations of the current year .
c . the cumulative effect of the change in principle should be reflected on the income statement as of the beginning of the next year . d . the cumulative effect of the change in accounting principle should be classified as an extraordinary item on the income statement .
19 . Which of the following is not an irregular item on the income statement ?
a . Discontinued operations b . Extraordinary items c .
Other revenues and expenses
20 . Vertical analysis is a technique that expresses each item in a financial statement