For 2017, P Co

question 149

Multiple Choice

For 2017, P Co. estimated its two-year equipment warranty costs based on $23 per unit sold in 2017. Experience during 2018 indicated that the estimate should have been based on $25 per unit. The effect of this $2 difference from the estimate is reported:

• A) In 2018 income from continuing operations.
• B) As an accounting change, net of tax, below 2018 income from continuing operations.
• C) As an accounting change requiring 2017 financial statements to be restated.
• D) As a correction of an error requiring 2017 financial statements to be restated.

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A phase of life characterized by the process of dying or the moment when life ceases.

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A five-stage model describing the phases of emotional response to grief and loss: denial, anger, bargaining, depression, and acceptance.

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The societal norms dictating the behaviors considered appropriate for individuals based on their perceived sex.