Accounting WAEC

If the Opening stock is undervalued?

A. goods available would be understated and gross profit overstated
B. goods available and gross profit would be understates
C. goods available would be overstated and gross profit understated
D. gross profit and goods available would be overstated
E. cost of goods sold would be overstated

Correct Answer:

Option A – goods available would be understated and gross profit overstated

Sunday

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