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"GAAP" stands for "Generally Accepted Accounting Principles." These are a set of accounting standards, principles, and procedures that are widely recognized and used by companies and organizations to prepare and present their financial statements. The purpose of GAAP is to ensure consistency, comparability, and transparency in financial reporting. By following GAAP, companies can provide users of their financial statements, such as investors, creditors, and regulators, with reliable and meaningful information about the organization's financial position, performance, and cash flows. GAAP is not a single set of rules, but rather a collection of principles and guidelines established by standard-setting bodies, such as the Financial Accounting Standards Board (FASB) in the United States and the International Accounting Standards Board (IASB) globally.
A clock is purchased for Rs. 1,800. It is then marked up by 50% above its original cost price. The clock is subsequently offered with two consecutive d...
A retailer offered two consecutive discounts of 20% and 15% on an item marked at Rs. 775. Given that the ratio of the cost price to the selling price of...
A merchant fixes the sale price of his goods at 50% above the cost price. He sells his goods at a 20% discount marked price. His percentage of profit (r...
A dealer sold an article at a loss of 4%. Had he sold it for ₹120 more, he would have gained 8%. To gain 11%, he should sell the article for?
A shopkeeper marks an article 50% above the cost price and allows a discount of 20%. If the cost price of the article is ₹600, find the selling price.
'A' purchased an article and sold it to 'B' at 10% profit. 'B' marked it up by 18% above the price at which 'A' has purchased it and then sold it after ...
A shopkeeper marked his goods 60% above cost price and gave a discount of 25%. Find profit percentage of the shopkeeper.
Ajay purchased two items for a total of Rs. 750. He sold the first item at an 18% loss and the second item at an 18% profit. The selling prices of both ...
In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what perce...