Question
Which of the following statements about a
firm's average cost curves is false?Solution
StatementĀ aĀ isĀ false. A rise in the price of a fixed input increases a firm's total costs, even though it cannot alter the quantity of this input that it uses in the short run. As its total cost for each output level increases, the average cost of each output level increases, so itsĀ SACĀ curve shifts upwards.
The primary objective of an Internal Audit, as opposed to a Statutory Audit, is to:
In relation to auditing concepts, which of the following statements is INCORRECT?Ā
In a computerized information processing cycle, which component involves saving data for future use?Ā
State which statement is incorrect:
A company has opening inventory of ā¹1,50,000 and closing inventory of ā¹2,50,000. Purchases during the year were ā¹10,00,000. What is the Inventory ...
SA 230 standard refers to:
If the fixed cost is Rs.43,500 and the company, the contribution is Rs.500 per unit, how many unit sales would a company need to do to earn a profit of ...
With respect to AS 13 relating to Accounting for Investments, which of the following statement is incorrect?
Which of these is not an example of a capital receipt?
Which of the following is true about amortisation of intangible assets under Ind AS?
