Updated CIMAPRA17-BA3-1 Practice Questions BY Salinas
Question 1
After calculating your company's profit for the year, you discover that:
(a) A non-current asset costing 2,000 has been included in the purchases account; the asset has not been included in the closing inventory figure; nor has it been depreciated by the normal 25% per annum
(b) Closing inventory of raw materials, costing 500, have been treated as closing inventory of stationery.
These two errors have had the effect of.