Which of the following statementsis not correct with regard to priorperiod adjustments? a.Prior period adjustments arise from

Fantastic news! We've Found the answer you've been seeking!

Question:

Which of the following statementsis not correct with regard to priorperiod adjustments?

a.Prior period adjustments arise from mathematical mistakes in aprevious period.

b.Prior period adjustments are errors found in a period afterthe error occurred.

c.Prior period adjustments are reported as an adjustment to theending balance of retained earnings in the current period.

d.All of these choices are correct.

Related Book For answer-question

Genetics Analysis And Principles

ISBN: 9780073525341

5th Edition

Authors: Robert Brooker

See More Books

Posted Date: Dec 13, 2022 11:00 AM

See More Questions

Which of the following statementsis not true about water? Group of answer choices Water molecules are attracted to each other by hydrogenbonds. Water molecules are covalently bonded. Water dissolves...
Which of the following is not correct with regard to the Public Company Accounting Oversight Board? a. The board can expel a registered auditing firm without SEC approval. b. All registered auditing...
Which of the following statement(s) is/are true with regard to positional information in Drosophila? A. Morphogens are a type of molecule that conveys positional information. B. Morphogenetic...
Southern Stitches is a local casual clothing shop that makes a variety of t-shirt styles. Below is some actual vs. budget information for Southern's t-shirts for the month of May. Assume no...
The Cat Creek Mining Company mines and ships coal. It has experienced the following demand for coal during the past 8 years: Year ..... Coal Sales (tons) 1 ....... 4,260 2 ....... 4,510 3 .........
Claire Consultants has been entrusted with the task of evaluating business plan that has been divided into four sectionsmarketing, finance, operations and human resources. Chris, Steve, Juana, and...
Repeat the calculations of Example 9.5, but for a total solution normality of 0.5. Data From Example 9.5:- For the Cu 2+ /Na + exchange with a strong-acid resin, show how the fraction CuR2 in the...
Presented below are a series of unrelated situations. 1. Spock Company's unadjusted trial balance at December 31, 2008, included the following accounts. Spock Company estimates its bad debt expense...
For this assignment, submit the code (SQL script or document), including structure from the Data Definition Language (DDL) and the Data Manipulation Language (DML). Use these SQL Statements as a...
EOQ Analysis Tiger Corporation purchases 1,240,000 units per year of a component. The fixed cost per order is $27. The annual holding cost of the item is 26.7% of its cost of $2.04. . Determine the...
9. The braking distances of a particular type of sedan are normally distributed. On a dry surface, the mean braking distance is 142 feet and the standard deviation is 6.51 feet. What is the longest...
Carla Vista Corp. has collected the following data concerning its maintenance costs for the past 6 months. Units Produced Total Cost July 20,180 $44,058 August 35,872 53,808 September 40,356 61,655...
The synthesis of ammonia from nitrogen and oxygen gas is non-spontaneous at 600K, but spontaneous at standard T of 298K: N2(g) + H2(g) NH3(g) Is this reaction endothermic or exothermic? endothermic...
A 1900.098 kg car is travelling along a road. How much kinetic energy does the car have if it were travelling at 40.0 km/h [E], and how much would it have if it were travelling at 30.0 km/h [W]?
What do you label retained earnings as if it's not an option?? Would it be service revenue?
An elastic with spring constant 2750 N/m is stretched by 193 cm [W]. How much force is the end of the elastic exerting, and how much elastic potential energy does it have?
What are the key challenges faced by businesses in managing their cash flow effectively, and how can proper cash flow management strategies contribute to financial stability and growth?
The text defined intrinsic value as the value of an asset given a hypothetically complete understanding of the assets investment characteristics. Discuss why hypothetically is included in the...
Describe when X-chromosome inactivation occurs and how this leads to phenotypic results at the organism level. In your answer, you should explain why XCI causes results such as variegated coat...
Tumor-suppressor genes are normal human genes that prevent uncontrollable cell growth. Starting with a normal laboratory human cell line, describe how you could use transposon tagging to identify...
What is the meaning of the term consensus sequence? Give an example. Describe the locations of consensus sequences within bacterial promoters. What are their functions?
A surface with $N_{0}$ adsorption centers has $N\left(\leq N_{0}ight)$ gas molecules adsorbed on it. Show that the chemical potential of the adsorbed molecules is given by \[ \mu=k T \ln...
Assuming that the latent heat of vaporization of water $L_{\mathrm{V}}=2260 \mathrm{~kJ} / \mathrm{kg}$ is independent of temperature and the specific volume of the liquid phase is negligible...
Define a quantity $J$ as \[ J=E-N \mu=T S-P V \] Show that for a system in the grand canonical ensemble \[ \overline{(\Delta J)^{2}}=k T^{2} C_{V}+\left\{\left(\frac{\partial U}{\partial...

Which of the following statementsis not correct with regard to priorperiod adjustments? a.Prior period adjustments arise from

Question:

Expert Answer:

The detailed answer for the above question is provided below The correct answer is d All of the... View the full answer

Genetics Analysis And Principles

Students also viewed these mathematics questions