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Which of the following should be reported as a Prior Period Adjustment on the 2026...

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Accounting

Which of the following should be reported as a Prior Period Adjustment on the 2026 Statement of Retained Earnings?

Select one:

a. Failure to Accrue Revenue at 12/31/21, but not 12/31/25 Inventory Overstatement

b. 12/31/25 Inventory Overstatement, but not Failure to Accrue Revenue at 12/31/21

c. Both Failure to Accrue Revenue at 12/31/21 and 12/31/25 Inventory Overstatement

d. Neither Failure to Accrue Revenue at 12/31/21 nor 12/31/25 Inventory Overstatement

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