Over statement of sales may lead to-
A)Over statement of profit of current year.
B)Over statements of profit of next year.
C)Under statement of profit of current year .
D)All the three

Question

Quizplus · Accepted Answer

Overstating sales will lead to an overstatement of profit for the current year because the reported revenue will be higher than the actual revenue earned, thus artificially inflating the profit figure.

Over Statement of Sales May Lead To-