Which of the Following Would Appear as a Prior Period

question 123

Multiple Choice

Which of the following would appear as a prior period adjustment?

• A) loss resulting from the sale of fixed assets
• B) difference between the actual and estimated uncollectible accounts receivable
• C) error in the computation of depreciation expense in the preceding year
• D) loss from the restructuring of assets

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Definitions:

Local Human Capital

The collective skills, knowledge, and experience possessed by individuals within a local population, contributing to its economic development.

Structural Capital

The knowledge, processes, and intellectual property that remain within an organization when its employees have gone home for the day.

Financial Capital

Economic resources in the form of money or other assets owned by individuals or organizations, used to fund business ventures or investments.