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 difference between the market value of goods produced and the cost of production is ...
April 11: Sold goods for cash N50,000 April 20: Bought goods for cash N30,000 April 26: Boug...
A financial plan of action expressed in monetary terms is a/an ...
Carriage inwards is shown on the ...
Which of the following is recorded on the debit side of the Trial Balance? ...
The amount for which a business is sold is ...