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    Question

    Statements: Only a few Auctions is Sales.

    Only a few Costs is Auctions. No Cost is Inventory. Conclusions: I. Every Auctions can be Costs. II. No Inventory is Sales. III. Some Auctions are not Inventory. In the question below there are some statements followed by some conclusions. You have to take the three given statements to be true even if they seem to be at variance from commonly known facts and then decide which of the given conclusions definitely follows from the three statements disregarding commonly known facts.
    A Only conclusion II follows Correct Answer Incorrect Answer
    B Only conclusion I and conclusion II follow Correct Answer Incorrect Answer
    C Only conclusion I follows Correct Answer Incorrect Answer
    D Only conclusion I and conclusion III follow Correct Answer Incorrect Answer
    E None of the conclusions follow Correct Answer Incorrect Answer

    Solution

    Only a few Costs is Auctions → All Auctions may be Costs (A). Hence conclusion I follows. No Cost is Inventory (E) → Conversion → No Inventory is Cost (E) + Only a few Costs is Auctions (I) → Some Auctions are not Inventory (O*) + Only a few Auctions is Sales (I) → No conclusion. Hence conclusion II does not follow but conclusion III follows.

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