If a company discovers a materially large error in a previously issued financial statement, they must restate the financial statements with the corrections. This is called a(n): extraordinary item. subsequent event 1.5 pts O prior period adjustment. cumulative effect of change in accounting principle.

If a company discovers a materially large error in a previously issued financial statement, they must restate the financial statements with the corrections. This is called a(n) : extraordinary item. subsequent event prior period adjustment. cumulative effect of change in accounting principle