Question
If a firm has been changing its depreciation policy
every year, it is violating the_______ concept/principle of accounting.Solution
The sole purpose of the consistency principle, or consistency concept, is to ensure that transactions or events are recorded in the same way, from one accounting year to the next. When talking about different accounting methods, this can include anything from cash vs accrual accounting, and using LIFO vs FIFO methods.
Some amount was divided among A, B and C in the ratio 3:5:8. If the share of A is 40 less than share of C, then find the 1/4th of total amount (in Rs).
A, B and C entered into a partnership by investing in the ratio of 5:2:4. At the end of the year, the total profit is in the ratio of 10:2:8. Find the r...
Rs. 8,100 was supposed to be distributed among 'X', 'Y', and 'Z' in the ratio of (1/3) : (1/4) : (1/6), respectively. However, due to an error, it was a...
A sum of money is divided in the ratio of 5 : 6. If the larger part is 192. Find the smaller part.
...Three numbers are in ratio 4:5:7. If the sum of the squares of those three numbers is 360 then find the sum of the three numbers.
The total number of students in a school is 20020. If the ratio of boys to the girls in the school is 73:81 respectively, then find the total number of ...
Two numbers are in the ratio 7:4. After adding 2 and 6 to them respectively the ratio becomes 2:3. Find the bigger number.
The ratio of males to females on a bus is 7:6. At the next stop, 7 males and 8 females exit the bus, while 4 males and 24 females board it. As a result,...
Two numbers are in the ratio of 6:13. If three is added to both numbers, the ratio becomes 1:2. Find the smaller number.
The ratio of the incomes of Vineet and Vidya is 10:7 respectively. Vineet saves 30% of his income while Vidya saves 20% of his income. The sum of their ...
Relevant for Exams:
