When a purchases of non current asset worth RM5,000 is mistakenly added to the purchases account instead of the non current asset accoun the effect is O Both gross and net profit will be understated O Only net profit will be overstated Both gross and net profit will be overstated
When a purchases of non current asset worth RM5,000 is mistakenly added to the purchases account instead of the non current asset accoun the effect is O Both gross and net profit will be understated O Only net profit will be overstated Both gross and net profit will be overstated
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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