Tracey runs a clothing store. She sold a computer with a net book value of £2,000 for £1,800. Cash was received but no entries had been made in any accounts.
What is the effect of correcting this error on the statement of financial position?
Select ONE answer:
Show your workings to arrive at your answer, and explain and justify your reasons:
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This multiple-choice question is suitable for Accounting KS5 classes.
The answer is 3
- Not correct
- Not correct
- Correct
- Not correct
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