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The principle of prudence requires that when making accounting estimates or determining the value of assets or liabilities, a degree of caution should be exercised. This means that potential losses should be recognized in the financial statements, even if they have not yet occurred, while potential gains should only be recognized when they are realized. In the case of inventories, the principle of prudence suggests that inventories should be valued at the lower of cost or net realizable value to ensure that the carrying amount of inventories in the financial statements is not overstated.
Statements: All glasses are plates.
Some plates are bowls.
Conclusions:I. Some bowls are glasses.
II. No bowl is a glass.
Statement :
All hotels are rooms.
All rooms are flats.
All flats are buildings.
No building is apartments.
Conclusi...
Three statements are followed by three conclusions numbered I, II, and III. You have to consider these statements to be true, even if they seem to be at...
Statements:
Only a few Ear are Eye.
No Eye is a Hand.
Only a few Hand is Leg.
Conclusions:
I. All Legs can neve...
Statements: Some reds are blues.
All blues are greens.
Some greens are n...
Statement:
Some divide are plus.
Only a few plus are minus.
All multiply are minus.
None plus is square. ...
Read the given statements and conclusions carefully. Assuming that the information given in the statements is true, even if it appears to be at varianc...
Statement:
All Planets are Stars
Some Stars are Earth
Only a few Suns are Planets
Conclusion:
I. All Sun being Star i...
Three statements are given followed by three conclusions numbered I, II and III. Assuming the statements to be true, even if they seem to be at varianc...
Statements:
All Colour is Bulb.
Only a few Colour is Light.
No Light is Wall.
Conclusion:
I....
