The Correction of an Error in the Financial Statements of a Prior

question 108

Multiple Choice

The correction of an error in the financial statements of a prior period should be reflected, net of applicable income taxes, in the current

• A) income statement after income from continuing operations and before extraordinary items.
• B) income statement after income from continuing operations and after extraordinary items.
• C) retained earnings statement after net income but before dividends.
• D) retained earning statement as an adjustment of the opening balance.