A Company Made an Error in Recording the 2014 Purchase

question 169

True/False

A company made an error in recording the 2014 purchase of computer equipment as an expense.This was discovered in 2015.The item should be reported as a prior period adjustment on the 2015 income statement.

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Definitions:

Violent Crimes

Acts of crime that involve force or threat of force against individuals, including offenses such as murder, assault, and robbery.

Homosexuals

Are people who prefer sexual partners of the same sex. People usually call homosexual men gay and homosexual women lesbians.

Sexual Orientation

An inherent or immutable enduring emotional, romantic or sexual attraction to other people.

Radical Feminism

A perspective within feminism that calls for a radical reordering of society to eliminate male supremacy in all social and economic contexts.