Errors affecting profit Which one of the following errors will affect the profit for the year? A.

Question:

Errors affecting profit Which one of the following errors will affect the profit for the year?

A. A cheque received from a credit customer had been completely omitted from the books.

B. An invoice for new machinery was incorrectly posted to fixtures and fittings.

C. A sales invoice to Peters had been incorrectly posted to Peterson's account.

D. A sales credit note had been completely omitted from the records.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting For Cambridge International AS And A Level

ISBN: 9780198399711

1st Edition

Authors: Jacqueline Halls Bryan, Peter Hailstone

See More Books

Question Posted: Sep 15, 2021 04:34 AM

See More Questions

Errors not affecting profit Which one of the following errors will not affect the profit for the year? A. An accrual for light and heat was omitted. B. An invoice for a new motor van was incorrectly...
Which one of the following compounds is most consistent with the infrared spectrum given in Figure 13.31? Explain your reasoning.
Which one of the following types of investments is always an example of a debt security? a. Available-for-sale securities b. Trading securities c. Held-to-maturity securities d. Equity method...
In evaluating employee performance and determining salary raises, a company uses a large number of subjective and objective criteria gathered from numerous evaluators that are then combined together...
One atomic mass unit has a mass of 1.6605 1024 g. What is the mass of one atom of sodium?
The American textile industry has moved much of its operations offshore in the pursuit of lower labor costs. Over the past 50 years, textile imports have risen from 2% of all textile production to...
Prepare a statement of cash flows for Tsingtao Breweries, China, from the following scrambled list of items. Increase in inventories 8,000 Operating income Dividends 220,000 30,000 Increase in...
Retail Inventory Method ?Conventional and LIFO Robinson Company began operations late in 2010 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2010...
5 Which one of the following correctly represents Sodium oxide? +2 XX a) Na 20 XX 6) 2NaOx x; 1-2 'xx' 1-2 c) 2 Na 20% c) Na XX XX 6 An element with atomic number_ will form a basic oxide. a) 7 (2,5)...
In your local market, computer programmers usually make $115,000 per year or more, and they sometimes have multiple companies bidding for their services. As HR manager for a software development...
Prepare a bank reconciliation statement from the following information, clearly identifying the balance as per the cash book. Debit balance as per bank statement 916.05 Unpresented cheques 161.33...
Bernard purchased a new motor van on 1 April 2011 for $32,000. Motor vans are depreciated at 25 percent per annum using the reducing-balance method of depreciation. The motor van was sold on 31 March...
Consider an atom of 10 B. (a) How many protons, neutrons, and electrons does this atom contain? (b) What is the symbol of the atom obtained by adding one proton to 10 B? (c) What is the symbol of the...
1.Explain two ways that a law can be passed by the federal or provincial government, even if it is contrary to the Canadian Charter of Rights and Freedoms. 2. Define discrimination and explain how a...
Commercial Law (Commercial Law 2B)The aim of the Consumer Protection Act 68 of 2008 is to protect consumers from exploitation and abuse in the marketplace. It therefore provides consumers with a bill...
A cheese pizza costs $5.5. Each additional topping adds to the cost of the pizza. The costs are given in the table below: Toppings Extra Toppings Cost Cheese 0 5.5 Plus One Topping 1 7 Plus Two...
Consider the politics of law enforcement related to terrorism and homeland security. What do you believe the future holds for law enforcement in these areas? How do you see policing changing? Should...
You just got a new puppy, and you need to determine the best way to have him cared for while you are at work. You could enroll your puppy in a doggy daycare in your neighborhood for $22 per day....
Draw the stereoisomers of 1-bromo-3-chlorocyclohexane
What is the role of business risk analysis in the audit planning process?
If a company wants its promotion to appeal to a new group of target customers in a foreign country, how can it protect against its communications being misinterpreted?
Promotion has been the target of considerable criticism. What specific types of promotion are probably the object of this criticism? Give a particular example that illustrates your thinking.
With direct-response promotion, customers provide feedback to marketing communications. How can a marketing manager use this feedback to improve the effectiveness of the overall promotion blend?
When managers have referent power over coworkers and subordinates, what does that mean? Multiple choice question. Managers are able to reward their subordinates as they deem appropriate. Managers...
Evaluate McDonalds on the methods of performance management. If you were the HR consultant for your chosen organization, what do you recommend/propose for a performance management strategy? What do...
What is it called when leaders' behaviors encourage and support their employees so that they are able to grow, develop, and excel on the job?

Errors affecting profit Which one of the following errors will affect the profit for the year? A.

Question:

Step by Step Answer:

ANSWER D A sales credit note had been completely om...View the full answer

Accounting For Cambridge International AS And A Level

Students also viewed these Business questions