Multiple Choice
A material prior period error in year ending 2009 was subsequently discovered in 2010.To comply with AASB 108 Accounting Policies,Changes in Accounting Estimates and Errors an entity should:
A) reissue the 2009 financial statements with the error corrected.
B) make a retrospective adjustment in 2009.
C) make a retrospective adjustment in 2010.
D) make a prospective adjustment in 2009.
Correct Answer:
Verified
Correct Answer:
Verified
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