a.
Concept Introduction:
Prior period adjustments: The adjustments that a business must make if they find an error after the release of financial statements of a year is prior period adjustments. These adjustments must be determined if the corrections to past years' financial statements are necessary to carry out necessary entries in the current year.
The
b.
Concept Introduction:
Prior period adjustments: The adjustments that a business must make if they find an error after the release of financial statements of a year is prior period adjustments. These adjustments must be determined if the corrections to past years' financial statements are necessary to carry out necessary entries in the current year.
The way Company M reports the adjustment in the

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INTERMEDIATE ACCOUNTING-MYLAB W/ETEXT
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