A Retrospective Restatement Appears in the Financial Statements of the Current

question 85

Multiple Choice

A retrospective restatement appears in the financial statements of the current year when:

• A) An error was made in computing the profit of the current period.
• B) An error was made in measuring the profit of a previous year or years.
• C) An extraordinary loss in a prior year was included among normal results of operations in the prior year.
• D) Earnings per share figures from prior years are restated to reflect the increased number of shares outstanding due to a share split or a stock dividend.

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Definitions:

Contingency

A term used to describe the relation between behaviors and their antecedents and consequences.

Behavior

The observable actions or responses of individuals or groups to internal stimuli or external environments.

Potent Reinforcers

Highly effective incentives or rewards that significantly influence behavior.

Behavior Modification

The use of empirically demonstrated behavior change techniques to improve or alter human behavior, often including reinforcement or punishment.