Question
In a period of rising prices and stable inventory
quantities, which of the following best describes the effect on gross profit of using LIFO as compared to FIFO?Solution
Compared to FIFO, Cost of goods sold under LIFO will be higher because the most recent higher costs units are assumed to be the first units sold. Higher COGS under LIFO will result in lower gross profit (revenue – cost of goods sold)
Who comprises the Central Consumer Protection Council, and what is its primary role according to the Consumer Protection Act ?
The Supreme Court Legal Services Committee, as per the Central Authority’s mandate, is constituted with the following composition and purpose:
The punishments to which offenders are liable under the provisions of Bharatiya Nyaya Sanhita includes______________
According to the IRDA Act, 1999 the Central Government shall, while appointing the Chairperson and the whole-time members, ensure that____________
S. 13 of CPC provides that a Foreign Jugdment shall ______________?
What is the punishment for gang rape of a woman below 18 years under Section 70(2) of BNS?Â
According to Section 37 of the Code on Wages, 2019 , under what circumstances is an employer entitled to deduct a portion of the bonus payable...
What is the punishment for someone who commits dacoity as perthe Bharatiya Nyaya Sanhita?
Province of Jurisprudence Determined’, is a book by which philosopher of Jurisprudence?
According to Section 36(c), if the memorandum of arrest is not attested by a family member, the police officer must—
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