Using the Following Information,calculate Accrual Profit for the Year Ended

question 68

Multiple Choice

Using the following information,calculate accrual profit for the year ended 30 June 2016.

• A) $296 000.
• B) $176 000.
• C) $180 000.
• D) $184 000.

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Definitions:

Duty of Care

A legal obligation imposed on an individual requiring adherence to a standard of reasonable care while performing any acts that could foreseeably harm others.

Justifiable Reliance

Justifiable reliance is a legal concept where a party makes a decision based on another party's representation or promise, considering the decision reasonable under the circumstances.

Commits Fraud

The act of intentionally deceiving someone in order to gain an unauthorized benefit or harm another person.

Fraudulent Information

False information that is knowingly presented as true to deceive or mislead others, often for personal gain or to fulfill certain objectives.