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Goods of Rs. 1,000 purchased from Mr. “A” were recorded in sales book. The rectification of this error will: ?

A)  Increase the gross profitB)  Reduce the gross profitC)  Have no effect on gross ProfitD)  None of the given options 

Accounting Auditing Financial Reporting Financial Accounting Bookkeeping
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Question added by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group
Date Posted: 2015/06/02
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Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option B - Reduce the gross profit.

PRADEEP VELAYUDHAN
by PRADEEP VELAYUDHAN , Chief Accountant , Super Group

b) reduce the gross profit------------------------------------

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