The effect of overstating revenue expenditure in the prof...
The effect of overstating revenue expenditure in the profit and loss account is that the
Opening stock will be increased
Net profit will be understand
Net profit will be overstead
Opening stock will be decreased
Correct answer is B
As a general rule, an increase in any type of business expense lowers profit. overstating expenditure would decrease or understate the net profit
Debtors and credit sales for a period are D 120,00 and D 600,00 respectively. The debtor's payme...
Which of the following is not contained in sales ledger control account? ...
Trading Account of Umeh Enterprises for the year ended 31st December 2019 ...
The following information were extracted from the books of Miliki state Sinking ...
In a period of declining price, which of the following methods would result in higher profit? ...
Shares that are offered to existing shareholders at a price is called ...
A sales day book is used to record ...
The ratio which measures the solvency of a firm is the ...
Given: Furniture and fittings..................N20,000 Equipment...............................N...