Accounting for IGCSE & O level - Accounting Procedures (Section 17 - No. 38)
What is the primary goal when correcting errors in accounting records?
To reduce tax liability.
To make the financial statements reflect the true and fair view of the business.
To comply with industry regulations.
To increase the company's profitability.
Explanation
The primary objective is to present a true and fair view of the company's finances.
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