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Campz Co manufactures tents for sale across Europe and is highly profitable. Most of the sales occur between March and August each year and the

image text in transcribed Campz Co manufactures tents for sale across Europe and is highly profitable. Most of the sales occur between March and August each year and the profit year-on-year has been constant Campz Co could have adopted an annual reporting date of 28 February but has adopted a reporting date of 30 September. Which Two of the following would be true as a result of Campz Co choosing a reporting date of 30 September? The statement of financial position as at 30 September should show Campz Co at its most liquid The time and costs of counting inventory should be minimised Profits for the year ended 30 September will be higher than those that would have been reported for the year ended 28 February Cash flows from operations reported in the statement of cash flows will be higher for the year ended 30 September than would have been for the year ended 28 February

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