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Which of the following should be reported as a prior period adjustment?
Suggested Answer: B
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Choice 'b' is correct. No - Yes
Change in estimated lives of depreciable assets is a 'change in estimate.' They affect only current and future periods (not 'prior periods,' not retained earnings).
Change from unaccepted principle to accepted principle is an example of an error of a prior period that should be reported as a 'prior period adjustment.'
8 comments · newest first
GE
German
11 months ago
I disagree, I feel like Option D could be it too.
WI
Wilda
12 months ago
Totally agree with Option B!
EA
Earlean
12 months ago
Wait, are we sure about Option C? Seems off.
TA
Tamie
12 months ago
I think Option A is the right choice.
EV
Eva
1 year ago
Option B is definitely a prior period adjustment.
MI
Minna
1 year ago
The activation code and IAM role for the IoT devices seems important. I'll make sure I understand how to properly set that up to integrate the Greengrass devices with Systems Manager.
AN
Annmarie
1 year ago
This is a tricky one. There are a few different metrics they could be looking at, like return on engagement or customer loyalty. I'll need to re-read the question and think about which one best fits the context they've provided.
LA
Laila
1 year ago
I'm a bit unsure here. Is it the SPDV profile, Server SSL, Client SSL, or Rewrite profile? I'll need to review my notes on virtual server configuration and SSL/TLS settings.