Prior Period Adjustments
      1. According to APB Opinion No. 9, what were prior period adjustments?
      2. What criteria had to be met in order for an item to be classified as a prior period adjustment?
      3. Were prior period adjustments expected to numerous?
      4. What were some examples of prior period adjustments under Opinion No. 9?
      5. If a prior period adjustment were recognized in a period, how was it to be reported in the financial statements?
      6. Why was FAS Statement No. 16 issued?  How did it modify APB Opinion No. 9?
      7. There are only two items that are to be treated as prior period adjustments under Statement 16.  What are they?

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