Question
Which of the following is not an advantage of accounting
standards?Solution
Accounting standards do create a level playing field for companies, but this is not the primary advantage of accounting standards. The primary advantage is that they promote consistency, comparability, accuracy, reliability, and transparency of financial information.
In the question below some statements are given followed by three conclusions I, II, and III. You have to take the given statements to be true even if ...
Statements:
Every universe is earth.
All sun are moon.
No universe is sun.
Conclusions:
I. A few moon are universe.
II. No earth is moon.
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:
Only a few Apple is Banana.
No Banana is Grapes.
Only a few Grapes is Mango.
All Mango is Papaya.
Conc...
Statements: All drafts are frames.
No frame is a sketch.
Conclusions: I. No Sketch is a draft.
II. Some drafts are not sketches.<...
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...
Statements: All lions are tigers.
All tigers are leopards.
Statements:Some combs are boxes.
All boxes are mirrors.
Conclusions:I. Some boxes are combs.
II. Some mirrors are combs.
- In the questions given below there are three statements followed by two conclusions I and II. You have to take the three given statements to be true even i...
Statements:
Some cubes are cuboids.
Only few cuboids are squares.
No square is a circle.
All circles are triangles.
C...
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