Question
During the financial year, a firm incurred a Cost of
Goods Sold (COGS) of ₹10,00,000. If its opening inventory was ₹1,80,000 and closing inventory was ₹2,20,000, calculate the Inventory Turnover Ratio, rounded to two decimal places.Solution
Average inventory = 1,80,000 + 2,20,000 /2 = 2,00,000 Inventory Turnover = COGS ÷ Avg Inventory = 10,00,000 ÷ 2,00,000 = 5 times.
An "object" is an instance of a:
Which of the following is a common way to achieve abstraction in OOP?
The bundling of data (attributes) and methods (functions) that operate on the data into a single unit (class), and restricting direct access to some of ...
Which type of polymorphism is achieved through method overloading (where multiple methods have the same name but different parameters)?
The ability of an object to take on many forms, or the ability of a single interface to represent different underlying forms, is known as:
The concept of showing only essential features of an object and hiding the complex implementation details is called:
The ability of an object to take on many forms is known as:
Which special method is automatically called when an object of a class is created, typically used for initializing the object's state?
Which OOP concept allows a class to inherit properties and behaviors from another class?
How is data hiding primarily achieved in OOP?
