Question: 30. During the current year, the entity discovered it had overstated sales in the prior year. How should the entity handle this issue? a. Adjust

30. During the current year, the entity discovered it had overstated

30. During the current year, the entity discovered it had overstated sales in the prior year. How should the entity handle this issue? a. Adjust current sales for the entire adjustment. b. Spread the adjustment over future periods. c. Spread the adjustment over current and future periods. d. Restate the prior year financial statements presented for comparative purposes. D

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