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Title: Section 441.267 - Prior-period adjustment

441.267 Prior-period adjustment. A correction of an error in earlier financial statements or an adjustment that results from realization of income tax benefits of pre-acquisition loss carry-forwards of purchased subsidiaries; all other items of profit or loss recognized in a fiscal year are required to be included in the determination of net income in the year recognized (see FASB Statement No. 16).


VOLUME C (Title 10)