The Correction of an Error in the Financial Statements of a Prior

question 50

Multiple Choice

The correction of an error in the financial statements of a prior period should be reflected,net of applicable income taxes,in the current

• A) income statement after income from continuing operations and before extraordinary items.
• B) income statement after income from continuing operations and after extraordinary items.
• C) retained earnings statement after net income but before dividends.
• D) retained earnings statement as an adjustment of the opening balance.