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help please asap!! In 2020, Henri Fashions, Inc. found and corrected an error in its method of calculating deferred revenue. The error in method originated
help please asap!!
In 2020, Henri Fashions, Inc. found and corrected an error in its method of calculating deferred revenue. The error in method originated in 2017, and resulted in material overstatements of revenue in 2017 and in each of the following three years. Which of the following would not need to be disclosed in the financial statements issued for 2020? (Henri Fashions presents three years of operating results in its financial statements.) Select one: a. Description of the error b. Effect of the correction in 2018 operating results, by line item c. Cumulative effect of the change to Retained Earnings at the beginning of 2018. d. Effect of the correction in 2019 operating results, by line item e. Effect of the correction in 2017 operating results, by line item f. Statement that previously issued statements have been restated Step by Step Solution
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