Which of the following describes an IASB requirement that the FASB has adopted as part of the short-term convergence project?
a. Following the IASB format for presentation of a statement of comprehensive income.
b. Retrospective application of the new accounting principle when a change in accounting principle occurs.
c. Using the cost recovery method when the percentage of completion method is not appropriate for long-term construction contracts.
d. Eliminating LIFO as an acceptable inventory cost flow method.
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