Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Goods of Rs. 1,000 purchased from Mr. “A” were recorded in sales book. The rectification of this error will: ?

A)  Increase the gross profitB)  Reduce the gross profitC)  Have no effect on gross ProfitD)  None of the given options 

Accounting Auditing Financial Reporting Financial Accounting Bookkeeping
user-image
Question added by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group
Date Posted: 2015/06/02
Upvote (0) Views (9) Followers (2) Answers (2) Report Question
Write an Answer
Register now or log in to answer.
Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option B - Reduce the gross profit.

PRADEEP VELAYUDHAN
by PRADEEP VELAYUDHAN , Chief Accountant , Super Group

b) reduce the gross profit------------------------------------

Write Your Answer
More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.

Get Help