Which of the following situation will decrease both receipts and disbursement in the book proof of cash? I. Collection of customers account was recorded higher by P10,000 and corrected in the same period. II. Disbursements of check payment to supplier was recorded higher by P5,000 and corrected in the same period. III. Disbursements of check payment to supplier was recorded lower by P5,000 and corrected in the same period. Group of answer choices III only Both I and III Both I and II II only Both II and III I only
Which of the following situation will decrease both receipts and disbursement in the book proof of cash? I. Collection of customers account was recorded higher by P10,000 and corrected in the same period. II. Disbursements of check payment to supplier was recorded higher by P5,000 and corrected in the same period. III. Disbursements of check payment to supplier was recorded lower by P5,000 and corrected in the same period. Group of answer choices III only Both I and III Both I and II II only Both II and III I only
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
73.
Which of the following situation will decrease both receipts and disbursement in the book proof of cash?
I. Collection of customers account was recorded higher by P10,000 and corrected in the same period.
II. Disbursements of check payment to supplier was recorded higher by P5,000 and corrected in the same period.
III. Disbursements of check payment to supplier was recorded lower by P5,000 and corrected in the same period.
I. Collection of customers account was recorded higher by P10,000 and corrected in the same period.
II. Disbursements of check payment to supplier was recorded higher by P5,000 and corrected in the same period.
III. Disbursements of check payment to supplier was recorded lower by P5,000 and corrected in the same period.
Group of answer choices
III only
Both I and III
Both I and II
II only
Both II and III
I only
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