What reasons might explain an apparent discrepancy

Reference no: EM131436171

Question: The owner of a business is confused, and comes to you for help. The financial statements for his business, prepared by an accountant, for the last accounting period revealed an increase in profit of £50,000. However, during the accounting period the bank balance declined by £30,000. What reasons might explain this apparent discrepancy?

Reference no: EM131436171

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