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:

PLC

Programmable Logic Controller, a robust computer used in industrial automation for controlling machinery and processes.

Module Inserted

Refers to the action or status of having successfully connected a module, such as an I/O module, into its designated slot or position in a system.

LED Indicator

A light-emitting diode used as a visual signal to represent the status or condition of a device, operation, or process.

Electrical Noise Interference

Unwanted disturbances superimposed on a useful signal that tend to obscure its information content, often caused by electromagnetic disturbances.