- This topic has 3 replies, 2 voices, and was last updated 2 years ago by
.
Viewing 4 posts - 1 through 4 (of 4 total)
- Posts
When performing his year-end inventory count Mahmood accidentally counted goods that were in the despatch area waiting to be delivered to customers. The goods had a cost of $50000 and were despatched prior to the year-end.
What impact does this uncorrected error have on profit and assets at y/e?
Assets – Overstated or Understated
Profits – Overstated or UnderstatedAnswer my question pls. sir!
Please do not simply type out test questions and expect to be provided with an answer.
Tell me what you think the correct answer is and I will tell you whether or not you are correct!
Have you watched our free lectures?
Viewing 4 posts - 1 through 4 (of 4 total)
- You must be logged in to reply to this topic.