Which of the Following Would Be Treated as a Prior

question 102

Multiple Choice

Which of the following would be treated as a prior period adjustment by Gold Corporation in 2010?

• A) In 2010, it was discovered that Gold Corporation recorded the purchase of a warehouse in 2007 as a debit to Repairs Expense.
• B) In 2010, Gold Corporation switched from the straight-line method of depreciation to another method of computing depreciation.
• C) In 2010, Gold Corporation's management decided that the estimated useful life of its computer equipment should be changed from five years to nine years.
• D) In 2010, Gold Corporation sold a segment of the business that it has operated since 1996.

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Definitions:

Steep Slopes

Land areas with a sharp incline, prone to erosion, landslides, and offering distinct ecosystems and geological formations.

Island Arc

A curved chain of volcanic islands located at a tectonic plate boundary, typically formed from the subduction of an oceanic plate under another plate.

Mid-Ocean Ridge

A global chain of mountains beneath the sea, created by the movement of Earth's plates.

Andes

A major mountain range in South America, stretching along the western edge of the continent.