Accounting Multiple Choice Question – 9 June 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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The directors of a company are completing the accounts for the year ended 30 April 2020.

They discover that the stock at 1 May 2019 was over-valued by £50,000.

What is the effect of correcting this error in the accounts?

Select ONE answer:

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct
  4. Not correct

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