A prior period adjustment is: a. reported in the income statement as a nontypical item. b. a

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A prior period adjustment is:

a. reported in the income statement as a nontypical item.

b. a correction of an error that is made directly to retained earnings.

c. reported directly in the stockholders' equity section.

d. reported in the retained earnings statement as an adjustment of the ending balance of retained earnings.

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Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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Question Posted: Jun 10, 2024 01:23 AM

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A prior period adjustment is: a. reported in the income statement as a nontypical item. b. a

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Financial Accounting Text Only

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