A Prior Period Adjustment Would Be Necessary When

question 23

Multiple Choice

A prior period adjustment would be necessary when:

• A)a stock dividend is declared.
• B)a stock dividend is paid.
• C)amortization expense was understated the prior year.
• D)a cash dividend is declared.

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Definitions:

Cheerleading

An activity involving performance of routines consisting of tumbling, dance, jumps, cheers, and stunting to direct spectators’ attention to events and support sports teams.

Promotion

The process or act of raising someone to a higher position or rank, or the act of advertising or pushing for the sale of products or services.

Argument

A series of statements or reasons made to support or oppose a conclusion.

Cold Front

A leading edge of a cooler mass of air, replacing at ground level a warmer mass of air, characterized by weather changes.