If an error is recorded in a journal entry,
A) cancel the error by drawing a neat line through the error.
B) correct the entry by writing the correct item above the canceled error.
C) do not erase the incorrect item.
D) all of these.

Question

Quizplus · Accepted Answer

The correct approach to handling an error in a journal entry includes canceling the error by drawing a neat line through it, writing the correct item above the canceled error, and not erasing the incorrect item. This ensures the error is acknowledged and corrected while maintaining the integrity and audit trail of the financial records.

If an Error Is Recorded in a Journal Entry