hi

Please assist .. In interim financial reporting, when there is a major repair occur in the second quarter it according to me it should recognizes in the second quarter... but there are several options. Need to know if I am right or wrong .

For interim financial reporting, a major repair occurring in the second quarter should be O recognized in the second quarter. O recognized ratably over all four quarters with the first quarter being restated. O recognized ratably over the last three quarters. O disclosed by note only in the second quarter. Click if you would like to Show Work for this question: Open Show Work