Q1: An over-statement of beginning work-in-progress inventory will AnswerAnswer: Understate the profit Q2: An under-statement of ending work-in-progress inventory will AnswerAnswer: Understate net profit Q3: An understanding approved at by certain businessmen to divide the market them is known as AnswerAnswer: Informal agreement Q4: An unobseruable inner force that stimulates and compels a behavioural response…
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