If sales return is understated, it implies that ---------...
If sales return is understated, it implies that ------------------------------ is overstated
Return inward
Sales figure
Cost of sales
Return outward
Correct answer is B
This is so because returns inwards are deducted from sales to ascertain the actual sales made after subtracting defected goods
The use of three column cash book is determined by ...
Shares that are offered to existing shareholders at a price is called ...
Which of the following is a real account item? ...
In preparing the final accounts, the bad debt account is closed by a transfer to the ...
A sales for N2,570 was recorded in the day book as N2,750. The error committed was ...