Question
A manufacturing firm includes administrative overheads
and interest costs in inventory valuation during a slowdown. Which accounting principle is violated?Solution
Inventory must not include abnormal costs like interest or administrative overheads unrelated to production. Including them inflates asset values, violating the prudence concept.
Seven boxes T, U, V, W, X, Y and Z are kept in a seven-storey building such as bottommost box is numbered as 1 and the box immediately above it is numbe...
The question given below consists of two statements numbered I and II given below it. You have to decide whether the data provided in the statements ar...
Who among P, Q, R, S and T is tallest?
I. S is taller than only 2 people and R is taller than P.
II. P is not shorter than S.
Among the seven students P, Q, R, S, T, U and V, who scored 2nd highest in quant test?
I: P scored more than only R. Two students scored more...
How is A related to B?
I. C has two daughters and D is one of them who is married to A.
II. C is mother of B, who is younger sister of D.
Six persons D, E, F, G, H, and I have different heights. Who is the tallest person?
Statement I: F is shorter than D. G is taller than I but sho...
Given below is a question followed by two statements numbered I and II, each containing some information. You have to decide which of the statements is/...
Among the following friends L, M, N, O, P and Q (each friend is of different height), which of the tallest?
I. O is taller than L and Q but short...
On which floor does C lives? If A, B, C, D, E are living in a building. The lowermost floor of the building is numbered 1 its above floor numb...
O, P, Q, S, T and V are standing in straight line facing north. Who among the following is between S and V?
I. V stand second to the right of S. ...
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