Accounting for IGCSE & O level - Accounting Procedures (Section 11 - No. 28)
Which of the following errors affect net profit calculations?
Building cost debited instead of repairs.
Advertising expenses understated and sales understated.
Drawings not recorded.
Payment to an employee debited wages and credited bank account.
Explanation
Building cost, drawing and employee payment do not affect the net profit, but advertising does.
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