A correction of an accounting error does not involve

Question

Quizplus · Accepted Answer

A correction of an accounting error involves adjusting the financial statements for the period in which the error occurred, but it should not involve management bias. Choices A, B, and C reflect the possible ways to correct an accounting error, such as providing note disclosure for material errors, making retrospective adjustments for prior periods, or making retrospective restatements to correct prior financial statements. However, management bias is not an acceptable part of this process.

A Correction of an Accounting Error Does Not Involve