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Question Practice

If closing stock is overvalued, what impact does it have?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

If closing stock is overvalued...

Single Answer MCQ
Q-00053566

If closing stock is overvalued, what impact does it have?

1

Understates the net profit

2

Overstates the cost of goods sold

3

Understates the closing stock

4

Overstates the net profit

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