LEARNING MANAGEMENT SYSTEM AH ? Fakulti Perniagaan, Ekonomi dan Perakaunan QUIZ

Question

LEARNING MANAGEMENT SYSTEM AH ? Fakulti Perniagaan, Ekonomi dan Perakaunan QUIZ 2 BT12203 (ulangan) BT1 220312-2017/2018] ng ad Question 4 Not yet answered ear ending on 31 May. At 31 May 2013, there were goods on Marked out of 1.00 P Flag question Which of the following statements about the accounts for the 4. C11.Ah Beng runs a small business. It has an accounting sale or return which cost RM1,000 that had been treated as credit sales during the year at a selling price of RM1,500. unts year ended 31 May 2013 is not true: d b ed I Select one: a. The value of stock at 31 May 2013 is understated by RM1,000 b. The value of debtors at 31 May 2013 is overstated by RM1,500 c. The amount of sales for the year is overstated by RM1,500 d. The profit for the year is overstated by RM1,500 Next

Explanation / Answer

Answer: d. The profit for the year is overstated by RM1,500.

If the selling price was RM 1,500, and the cost of the gods was RM 1,000, profits would be overstated by RM ( 1,500 - 1,000) = RM 500.

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