Question Description
Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d. for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d. covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d..

Solutions for Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d. in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

Here you can find the meaning of Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d. defined & explained in the simplest way possible. Besides giving the explanation of Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d., a detailed solution for Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d. has been provided alongside types of Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d. theory, EduRev gives you an ample number of questions to practice Can you explain the answer of this question below:While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing inventory of the previous year. In the previous year, closing inventory was valued more by Rs.50,000. As a resultA:Previous year ’s profit is overstated and current year ’s profit is also overstatedB:Previous year ’s profit is understated and current year ’s profit is overstatedC:Previous year ’s profit is understated and current year ’s profit is also understatedD:Previous year ’s profit is overstated and current year ’s profit is understatedThe answer is d. tests, examples and also practice CA Foundation tests.