During 2008, Radar Corporation's accountant improperly capitalized $50,000 of research and development costs. During 2010, Radar discovered the error. Correction of this error will
A) affect current period net income.
B) not affect Radar's stockholders' equity.
C) increase current period research and development expense.
D) cause Retained Earnings to increase.
E) cause Retained Earnings to decrease.
Correct Answer:
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