After Preparing the Financial Statements for 2009, the Accountant for the Dawson

question 122

Multiple Choice

After preparing the financial statements for 2009, the accountant for the Dawson Corporation discovered that a retrospective restatement had been omitted from the 2007 financial statements. Which of the following is most likely to require correction as a result of this oversight?

• A) Earnings per share as originally computed.
• B) Profit for 2009 as originally reported.
• C) Ending retained earnings at December 31, 2009.
• D) Extraordinary items as originally reported.

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Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow that comprises a five-tier model of human needs, depicted as hierarchical levels within a pyramid; from the bottom of the hierarchy upwards, the needs are: physiological, safety, love and belonging, esteem, and self-actualization.

Recognition

The acknowledgment or appreciation of someone's effort, achievements, or status.

Motivated Sequence

A method of organizing persuasive speeches aimed at eliciting a desired response from the audience, typically involving steps such as attention, need, satisfaction, visualization, and action.

Persuasive Pattern

A strategic arrangement of arguments and information designed to effectively convince or influence an audience.