1. (单选题)When a material error is discovered in prior financial statements:

　 prior financial statements are restated to their correct amounts.

　 assets and liabilities in the current period are restated to their appropriate levels.

　 prior income effects are adjusted to the current period's beginning balance of retained earnings.

　 all of these answer choices are correct.

正确答案：A

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9. (单选题)In a perpetual average cost system:

8. (单选题)In a periodic inventory system, the cost of purchases is debited to:

7. (单选题)Using the gross method, purchase discounts lost are:

6. (单选题)Cost of goods sold is given by:

5. (单选题)The largest expense on a retailer's income statement is typically:

4. (单选题)In a perpetual inventory system, which of the following is recorded at the time of the sale?

3. (单选题)The use of LIFO during a long inflationary period can result in:

2. (单选题) Ending inventory is equal to the cost of items on hand plus:

1. (单选题)The primary reason for the popularity of LIFO is that it:

20. (判断题)The journal entry to record the replenishment of a petty cash fund includes a credit to the petty cash fund.