Accounting for IGCSE & O level - Accounting Procedures (Section 18 - No. 23)
If drawings of £6,000 were omitted from the books, which statement is true?
Drawings and capital are overstated
Cash and drawings are understated
Cash is overstated and capital is understated
Drawings and capital are understated
Explanation
The drawings and capital will be understated by £6,000
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