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) ​The gross profit method may be used for interim periods when taking a physical inventory would be too costly.
D) ​A company should allocate a portion of its estimated year-end inventory adjustment to each interim period.