Which of the Following Statements About Interim Reporting Is False

Multiple Choice

Which of the following statements about interim reporting is false?

A) If a company reports year-to-date financial information for the current year, it also must report the last twelve month-to-date information.
B) Under some circumstances, a company can restate the financial information of an earlier current-year quarter.
C) Tax benefits arising from earlier interim periods in the current year can be carried forward to the current interim period to offset tax expense.
D) The total of all nonordinary losses in the current quarter multiplied by the effective tax rate equals the amount of tax expense to be allocated among those losses.