Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 9 - No. 16)
Which of the following items will impact the profit for the year?
Depreciation expense
Irrecoverable debts
Prepaid expenses
Accrued income
Explanation
Depreciation, irrecoverable debts and accrued income will all impact the profit for the year. Prepaid expenses are already paid, so they do not have an impact.
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