If errors occur in the recording process, they. a. cannot be corrected until the next accounting period. B. should be corrected as adjustments at the end of the period. C. should be corrected as soon as they are discovered. D. should be corrected when preparing closing entries.

The correct answer is letter "C": should be corrected as soon as they are discovered.

Explanation:

In book-keeping a company's transactions, errors while entering operations could arise. It is suggested to correct them as soon as the mistake is found but if that is not possible the corresponding adjustment must be made. Besides, the materiality accounting principle allows surpassing the mistake in one transaction entry as long as it does not affect the results in the Financial Statements.

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