At the end of a financial period, the trading profit and loss account of a...
FINANCIAL
JAMB 2012
At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of #180,000. it is however discovered that revenue of #15,000 is recorded as expenses while expenses of #4,000 is recorded as revenue. The revenue to be added as an adjustment is
- A. #34,000
- B. #30,000
- C. #15,000
- D. #4,000
Correct Answer: B. #30,000
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