Ifndepreciation is excess charged by Rs.500 and closingnstock is under – McqOptions

MCQOPTIONS

1.	Ifndepreciation is excess charged by Rs.500 and closingnstock is understated by Rs.500, the net profit will be _____ due to these errors
A.	Understated by Rs.500
B.	Understated by Rs.1000
C.	Overstated by Rs.1000
D.	No effect
Answer» C. Overstated by Rs.1000

Discussion

No Comment Found

Related MCQs

What day of the week does May 28 2006 fall on?
What will be the day of the week on 15th August, 2010?
The banker's discount on a sum of money for 112 years is Rs. 120. The true discount on the same sum for 2 years is Rs.150. What is the rate percent?
What is the difference between the banker's discount and the true discount on Rs.8100 for 3 months at 5%?
What is the present worth of a bill of Rs.1764 due 2 years hence at 5% compound interest ?
The banker's gain of a certain sum due 2 years hence at 10% per annum is Rs. 24. What is the present worth?
The banker's discount on a sum of money for 3 years is Rs. 1116. The true discount on the same sum for 4 years is Rs. 1200. What is the rate percent?
The true discount on a bill for Rs. 2520 due 6 months hence at 10% per annum is?
A banker paid Rs.5767.20 for a bill of Rs.5840, drawn of Apr 4 at 6 months. If the rate of interest was 7%, what was the day on which the bill was discounted?
The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 360. The banker's discount is?