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True or false: A prior period adjustment can be either a positive or a negative adjustment to the amount of retained earnings.

True or false: A prior period adjustment can be either a positive or a negative adjustment to the amount of retained earnings.
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21 votes
True or false: A prior period adjustment can be either a positive or a negative adjustment to the amount of retained earnings.

asked
User Guven Sezgin Kurt
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8.6k points

1 Answer

11 votes
Complete guess but I think the Answer is TRUE I’ve seen a similar question before and the answer was true
answered
User Babacar Gningue
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9.2k points
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