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Subject - Accounting:

Financial Accounting

MCQ - 121-123

Question:

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

  1. Increase the gross profit
  2. Reduce the gross profit
  3. Have no effect on gross Profit
  4. Reduce the gross profit

Correct Answer: B

Explanation:

Not required

Record Performance

355 MCQ for effective preparation of the test of Financial Accounting of Accounting section.

Read the MCQ statement: Goods of $1,000 purchased from Mr. “A” were recorded in sales book, the rectification of this error will: , keenly and apply the method you have learn through the video lessons for Financial Accounting to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 121-123.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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