Can we correct a wrong answer?

You do it by answering the question correctly. If you feel you must point out the error, don't do it by calling out the person or insulting them. Just state that you believe another answer might contain an error or be mistaken. Remind the person asking the question that they should always verify information before accepting it as true.

Not a violation at all. It must be done in a non insulting manner, you can't say "Look at how stupidly wrong name's answer is."

You can just post the correct info and hope the user posting the wrong info learns from it and will not continue to post that wrong answer.

Some users do not take being corrected very well at all but it is better to not have users learn something wrong.

Yes, of course you can. It would be somewhat irresponsible not to. Just do not call out the user who answered incorrectly.

For example, yes..you can correct wrong answers, and it does not have to be your own through an edit.

:)

No if you do it in a nice Community way . You cant insult the one who made the mistake.

Not unless it's your own and you edit it before it goes to voting or the asker chooses best answer.

You can go back and change your answer on open questions but not when they are "In Voting" or "Resolved"

Chetak