Accounting for IGCSE & O level - Accounting Procedures (Section 25 - No. 16)
What is the impact to the profit when advertising expenses were understated by £300 and sales were understated by £300?
Profit is understated by £300.
Profit is understated by £600.
Profit is unaffected.
Profit is overstated by £600.
Explanation
If the expenses and sales are understated, there is no impact on the profit.
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