Accounting for IGCSE & O level - Accounting Procedures (Section 28 - No. 5)
If the purchases journal was understated by £200, how would this affect the company's profit?
Profit would be overstated.
Profit would be understated.
Profit would remain the same.
Insufficient information.
Explanation
If the expenses are understated, the profit will be overstated.
Comments (0)
