Which of the Following Statements in Relation to Errors Is

question 3

Multiple Choice

Which of the following statements in relation to errors is correct?

• A) Errors must be accounted for on a retrospective basis;
• B) Under the "all inclusive" concept of profit, accounting errors must be recognised in profit and loss for the period;
• C) All errors, regardless of their size must be corrected as soon as they are discovered;
• D) Where the error is considered to be fundamental, the prior year financial statements must be recalled and reissued.

---

Definitions:

Mating Behaviors

The actions or sequences of actions performed by animals as part of the courtship and reproduction process.

Voles

Small, mouse-like rodents belonging to the family Cricetidae, known for their prolific breeding and significant role in ecosystems.

Chemical Signals

Molecules released by cells that influence the behavior or physiology of other cells, often serving as communication means between cells or organisms.