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:

Daily Work

Routine tasks or activities that a person engages in as part of their occupation or job responsibilities.

Productivity

The efficiency with which an individual, organization, or economy converts inputs into useful outputs.

Online Sales

The process of purchasing goods or services over the internet.

Sleep

A natural and periodic state of rest during which consciousness of the world is suspended and the body's metabolic functions slow down.