Elance Exams Answers PDF file

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Download PDF file of elance Zoho Creator Exam Answers
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A business has prepared its accounts for a financial year and these show a profit of $600 000. The accounts do not include the following items: • a likely loss on a contract of $100,000 • a possible Court ruling in favor of the company which is likely to increase profits by $10 000 • a possible Court ruling against the company which could result in damages of between $5 000 to $10 000. Having regard to the fundamental accounting concepts, which of the following revised profit which figures is correct when the above factors are taken in to account?

500,000
$490,000
$510,000
$470,000
$480,000
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