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AICPA Exam CPA-Financial Topic 2 Question 75 Discussion

Actual exam question for AICPA's CPA-Financial exam
Question #: 75
Topic #: 2
[All CPA-Financial Questions]

Which of the following should be reported as a prior period adjustment?

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Suggested Answer: B

Choice 'b' is correct. Change in the computation of warranty costs from 3% of sales to 1% of sales is a change in accounting estimate.


by Rozella at Oct 04, 2023, 08:02 PM

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Clarinda
12 days ago
Hmm, let's see... I'm going to have to go with Option E: 'All of the above, and also the kitchen sink.' Because why not, right? Accounting is basically just a fancy form of juggling, if you ask me.
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Dannie
2 days ago
User 1: I think the correct answer is Option A.
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Felice
18 days ago
Seriously, who comes up with these questions? I feel like I'm back in my high school math class. Anyway, I'm going to have to go with Option C. It's the only one that doesn't sound like a complete disaster.
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Emogene
19 days ago
Ah, the joys of financial reporting. Let's see here... I'm thinking Option A. It just has that 'prior period' vibe, you know? Although, Option D could be a wild card. Maybe I'll just close my eyes and point.
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Denae
22 days ago
Ugh, another accounting question. Can't they just give us something fun, like 'which type of calculator is the most aesthetically pleasing?' Anyway, I'm going with Option B. It's the only one that doesn't sound like a total mess.
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Zona
27 days ago
Hmm, this one's tricky. I'm going to have to go with Option D - it just seems the most logical choice, you know? Although, Option C is tempting, I do love a good mystery!
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Alonso
29 days ago
Why do you think it's Option C?
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Layla
1 months ago
I disagree, I believe it should be Option C.
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Alonso
1 months ago
I think the answer is Option A.
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