Accounting and Finance

10%

50%

70%

80%

Gross profit is understated

Total assets are overstated

Net profit is overstated

Total assets are understated

the cash only

the goods only

both the cash and the goods

neither the cash nor the goods

dividend paid

payments for major building improvements

purchase of machinery

rent paid

$2 880

$2 907

$3 060

$3 600

as an uncredited deposit added to the bank statement balance

as an uncredited deposit deducted from the bank statement balance

as an unpresented cheque added to the bank statement balance

as an unpresented cheque deducted from the bank statement balance

$12 000

$15 000

$17 000

$20 000

gross profit is overstated

net profit is understated

total assets are overytated

total assets are understated

$16 600

$17 000

$17 100

$17 500

$22,000

$24,000

$26,000

$28,000