Correction of a Material Error Occurring in Prior Periods Is

Multiple Choice

Correction of a material error occurring in prior periods is reported as

A) an adjustment of earnings of the current period, only.
B) a retroactive restatement of prior years earnings, only.
C) a retroactive restatement of prior years earnings and an adjustment to the beginning balance of retained earnings for the current period.
D) an adjustment of earnings of the current and future periods.
E) an adjustment of earnings of the current period, and an adjustment to the ending balance of retained earnings for the current period.