If errors occur in the recording process, they
A) should be corrected as adjustments at the end of the period.
B) should be corrected as soon as they are discovered.
C) should be corrected when preparing annual financial statements.
D) cannot be corrected until the next accounting period.

Question

Quizplus · Accepted Answer

Errors in the recording process should be corrected as soon as they are discovered to ensure the accuracy and reliability of financial records and to prevent the compounding of errors over time.

If Errors Occur in the Recording Process, They