C is the controller of XYZ Corporation.As C prepared this year's tax return, she noted that several errors had been made in posting the accounts in the prior year and were reflected on last year's tax return.To correct the errors in the prior year's return C should seek approval from the IRS since this is a change in accounting method.

Question

Quizplus · Accepted Answer

Correcting errors in prior year's tax returns does not constitute a change in accounting method; it involves amending the previous year's return. A change in accounting method typically requires IRS approval because it affects how items are reported in the future, not correcting past mistakes.

C Is the Controller of XYZ Corporation