Accounting Changes and Error Corrections Flashcards
1
Q
What are the 4 accounting changes?What are the accounting treatment and what are the examples?
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2
Q
What are the items included in Statement of Retained Earnings?
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3
Q
What is the treatment of accounting errors?
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4
Q
What happens to retained earnings when you failue to record accounts payable incorrectly?
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5
Q
What happens when the ending inventory is recorded correctly? Does it understate overstate COGS,Net Income, and Retained Earnings?
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6
Q
Who retains the title for FOB shipping point and FOB destination?
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7
Q
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