Social Studies, 28.12.2021 14:00 miracle9704

Lore Co. changed from the cash basis to the accrual basis of accounting during 2005. The cumulative effect of this change should be reported in Lore's 2005 financial statements as a A. Prior period adjustment resulting from the correction of an error.
B. Prior period adjustment resulting from the change in accounting principle.
Prior period adjustments do not result from changes in accounting principle. Therefore, this answer could never be correct.
C. Adjustment to retained earnings for an accounting principle change.
D. Component of income after extraordinary item.

Answers: 2

Show answers

Another question on Social Studies

Social Studies, 21.06.2019 20:20

Apsychologist has developed a series of personality inventories and wants to determine if they are valid. one of the scales measures perfectionism, so he asks a colleague for advice on how to establish the validity of this scale. the colleague tells him that if he were to find a sample of people with personality disorder, these people would obtain high scores on a scale that measures perfectionism.

Answers: 2

Answer

Social Studies, 21.06.2019 21:20

Emily naturally blinks whenever her sister pretends she is going to poke her in the eye. her sister, a psychology major, then decides to have a little fun. she pairs the word “psychology” (neutral stimulus) with pretending to poke emily in the eye (unconditioned stimulus), which automatically makes emily blink (unconditioned response). soon, emily blinks as soon as she hears the word “psychology.” when emily blinks when hearing the word “psychology,” even when her sister does not pretend to poke her in the eye, the word “psychology’ is now the

Answers: 2

Answer

Social Studies, 22.06.2019 03:30

Which group of islands is called the land of fire and is located at the southern tip of south america

Answers: 1

Answer

Social Studies, 22.06.2019 08:00

When deciding on an apartment what should you do first?

Answers: 1

Answer

You know the right answer?

Lore Co. changed from the cash basis to the accrual basis of accounting during 2005. The cumulative...