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)
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at variance...
Select the Venn diagram that best illustrates the relationship between the following classes.
Engineers, Players, Poets
Study the given pattern carefully and select the number that can replace the question mark (?) in it.
(4, 2, 6)
(9, 3, 9)
(24, 6, ?...
How many right angled triangles can be made from the given image?
Select the number from among the given options that can replace the question mark (?) in
203, 199, 208, 192, 217, 181, ?
...A question is given followed by two arguments. Decide which of the arguments is/are strong with respect to the question.
Question:
Shoul...
Five dancers of a dance troupe are standing on a stage facing north. Rohit is 30 m to the right of Vikas. Somya is standing 30 m to the north of Vikas. ...
LCNT is related to NEPV in a certain way based on the English alphabetical order. In the same way, HBER is related to JDGT. To which of the following is...
Seven people A, B, C, D, E, F and G are sitting around a circular table, facing the centre (but not necessarily in the same order). A is sitting second ...
L is the wife of Q. P is the mother of M. J is the father of L. M is the sister of H. J is the husband of H. How is P related to L?
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