What is a prior-period adjustment?

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Apr 03, 2015 10:19 AM

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A prior period adjustment relates to the income of past accounting periods. Explain how such an item is shown in the financial statements.
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What is a prior-period adjustment?

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A priorperiod adjustment is a correction to retained ...View the full answer

Horngrens Financial and Managerial Accounting

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