Accounting for IGCSE & O level - Accounting Procedures (Section 14 - No. 4)
What is the impact on the financial statements if a non-current asset is debited instead of repairs, and also a sales commission amount is overstated?
Expense understatement
Expense overstatement
Profit will be overstated
Profit will be understated
Explanation
If expenses are understated, profit will be overstated
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