Companies Report Prior Period Adjustments, Net of Any Income Tax

question 145

Multiple Choice

Companies report prior period adjustments, net of any income tax effects in the:

• A) Statement of cash flows.
• B) No disclosure is required.
• C) Income statement.
• D) Balance sheet.
• E) Statement of retained earnings.

---

Definitions:

Disabled

A term describing people who have physical, mental, or developmental conditions that restrict their ability to engage in activities considered normal.

Biased View

A perspective that is unfairly prejudiced for or against someone or something.

Normal People

Individuals who conform to the prevailing norms and standards of society, often considered as average or typical members of a community.

Homosexuals

Individuals who are sexually attracted to people of the same sex.