Which method focuses on assuring that the year-end balance sheet is correct and does not consider the impact of prior-year uncorrected misstatements reversing in later years?
A)Rollover.
B)Iron curtain.
C)Dual.
D)Percentage.

Question

Quizplus · Accepted Answer

The Iron curtain method focuses on assuring that the year-end balance sheet is correct and does not consider the impact of prior-year uncorrected misstatements reversing in later years. It ignores the effect of prior-year misstatements and only considers the current year's errors.

Which Method Focuses on Assuring That the Year-End Balance Sheet