Accounting for IGCSE & O level - Accounting Procedures (Section 14 - No. 1)
If a payment was made to an employee, what is the implication if it was debited to the wages, and credited to the bank account?
Will affect the balance sheet.
Will affect the profit.
There is no effect on the financial statements.
The statement of cash flow is affected.
Explanation
The profit will be impacted
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