The Correction of an Error in the Financial Statements of a Prior

question 50

Multiple Choice

The correction of an error in the financial statements of a prior period should be reflected,net of applicable income taxes,in the current

• A) income statement after income from continuing operations and before extraordinary items.
• B) income statement after income from continuing operations and after extraordinary items.
• C) retained earnings statement after net income but before dividends.
• D) retained earnings statement as an adjustment of the opening balance.

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Definitions:

Move Instruction

A programmable logic controller instruction that moves data from one location to another. Although a move instruction typically places the data in a new location, the original data still reside in their original location.

Source

The origin or starting point of something, such as a signal in an electronic system or data in computing.

Address

A code that indicates the location of data to be used by a program, or the location of additional program instructions.

Data

Information processed or stored by a computer. This can be in the form of text, numbers, photos, audio, and other types.