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
Given: purchases ledger balance..............N4000 purchases for the period..............N50000 C...
In which ledger is the control account prepared? ...
The main purpose of transaction file is ...
A major benefit derived from the reconciliation of branch and head office books is to? ...
The double entry to record the good will in the books is debit ...