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
The expenses incurred in purchasing a vehicle is a ...
The principle use of control accounts is to ...
In an incomplete record, the preparation of the bank reconciliation ensures that ...
In the head office ledger, the value of goods sent to the branch are____________ ...
Manufacturing costs can be classified based on ...
Which of the following is a debit entry in debtors control account? ...
Sales - #232,000 Opening stock - # 28,000 Purchases - #128,000 Carriage inwards - # 4,000 Carria...