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:

Real Number

A value that represents a quantity along a continuous line, including all rational and irrational numbers.

Opposite Number

The number with the same magnitude but opposite sign to a given number, effectively located on the opposite side of zero on the number line.

Overbar Symbol

A notation used in mathematics to indicate that the value or sequence beneath the bar is repeated infinitely.

Decimal Representation

The expression of numbers in a base-10 system, involving a sequence of digits to the right and left of a decimal point.