Which of the following conclusions could be drawn if the gross profit ratio falls from 25 to

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Which of the following conclusions could be drawn if the gross profit ratio falls from 25 to 18%?

(a) There has been a deliberate change in trading policy

(b) There has been a mistake in counting or valuing closing inventory

(d) There has been shoplifting by customers or pilferage by staff not accounted for

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 28, 2023 09:25 AM

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Which of the following conclusions could be drawn if the gross profit ratio falls from 25 to

Question:

wa & b x a, b & c y b, c & d z All four

Step by Step Answer:

z a There has been a deliberate change in trading policy b ...View the full answer

Financial Accounting An Introduction

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