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O-LevelAccountingAccounting principles and policies7707/11 · May/June 2015 · Q131 Mark

Repairs to a motor vehicle were debited in error to the motor vehicles account. How does this affect the profit for the year and the non-current assets in the statement of financial position? profit for the year non-current assets A overstated overstated B overstated understated C understated overstated D understated understated

Aoverstated overstated
Boverstated understated
Cunderstated overstated
Dunderstated understated

✓ Correct answer

A: overstated overstated

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About this question

Topic
Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2015 Paper 1 Variant 1, question 13.

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