If an error is discovered before the entry is posted, the incorrect amount can be erased and the correct amount recorded.

Name: If an error is discovered before the entry is posted, the incorrect amount can be erased and the correct amount recorded.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In accounting, errors discovered before posting should not simply be erased; instead, a proper correction entry should be made to ensure the accuracy and integrity of the accounting records.

If an Error Is Discovered Before the Entry Is Posted