Examlex
Which of the following is NOT a reason that IBFs have been desirable to banks?
Material Error
A significant mistake in financial reporting that could influence the economic decisions of users of the financial statements.
Prospective Adjustment
An accounting adjustment applied to transactions or valuation changes that occur in the current or future accounting periods.
Adjusting Events
Events after the balance sheet date that provide further evidence of conditions that existed at the end of the reporting period, requiring adjustments to financial statements.
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