A Company Made an Error in Recording the 2009 Purchase

question 138

True/False

A company made an error in recording the 2009 purchase of computer equipment as an expense. This was discovered in 2011. The item should be reported as a prior period adjustment on the 2009 income statement.

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Definitions:

Mobile Devices

Portable electronic devices, such as smartphones and tablets, designed for use on the go.

Active

Engaging or ready to engage in physically energetic pursuits or the state of being involved in a particular activity or sphere.

Mobile Device

Electronic handheld equipment that enables the user to access, process, and communicate information wirelessly, such as tablets and smartphones.

Develop Paragraphs

The process of expanding ideas into structured sections of writing, each focusing on a particular aspect or argument.