Post Utme Ims U 2017 Accounting Question 20
Practice objective / multiple choice question 20 from the 2017 Post Utme Ims U Accounting examination.
A company discovers an error in its accounting records. The error is a mistake in the calculation of the cost of goods sold. The correct cost of goods sold is ₦50,000, but the company recorded it as ₦60,000. What is the effect of this error on the company's net income?
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About This Question
This is Post Utme Ims U 2017 Accounting Question 20. It is one of the objective questions from the 2017 Post Utme Ims U Accounting examination.
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