Which of the following statements is true?
Pooling of interests is acceptable provided the twelve criteria required by the APB are met.
Pooling of interests is no longer acceptable as stated in SFAS No. 141, “Business Combinations.”
Companies that used pooling of interests method in the past must make a retroactive accounting change in accounting principle.
Companies that used pooling of interests method in the past must make a cumulative effect accounting change in accounting principle.
Companies that used pooling of interests in the past must make a prospective change in accounting principle.