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Net profit for Greed & Mean Ltd. for the year ended December 31, 2019, after charging remuneration to the CEO in the amount of $5.2

Net profit for Greed & Mean Ltd. for the year ended December 31, 2019, after charging remuneration to the CEO in the amount of $5.2 million, amounted to $990 million. You have noted that the CEO has charged personal travelling expenses amounting to $800,000 to business expense. Required: Will the CEO's personal travelling expenses have a material effect of the financial statements?

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