Question: A company made an error in calculating and reporting amortization expense in 2015. The error was discovered in 2016. The item should be reported as

A company made an error in calculating and reporting amortization expense in 2015. The error was discovered in 2016. The item should be reported as a prior period adjustment:

A. on the 2015 statement of retained earnings.

B. on the 2015 income statement.

C. on the 2016 statement of retained earnings.

D. on the 2016 income statement.

E. accounted for with a cumulative "catch-up" adjustment in 2016.

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