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When an income statement error, that does not affect the balance sheet, is not found until after the books are closed, an entry ________. must
When an income statement error, that does not affect the balance sheet, is not found until after the books are closed, an entry ________.
| must be made to correct the error during the next year |
| must be made to correct the error by reopening the books |
| is not necessary, but financial statements must be recalled immediately |
| is not necessary, but the income statement must be corrected before issue |
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Accounting For Governmental And Nonprofit Entities
Authors: Jacqueline Reck, Suzanne Lowensohn, Daniel Neely
19th Edition
1260118851, 9781260118858
