Consider the given statement to be true and decide which of the following assumptions is/are implicit. Statement : A leading school in Mumbai has increased its fees by 150% from the next academic year. Assumptions : 1. Students may change school due to more fees. 2. The school may still have the same demand among the students.

Consider the given statement to be true and decide which of the following assumptions is/are implicit. Statement : A leading school in Mumbai has increased its fees by 150% from the next academic year. Assumptions : 1. Students may change school due to more fees. 2. The school may still have the same demand among the students. Correct Answer Either assumption 1 or 2 is implicit

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In each question below is given a statement numbered I, II and III. An assumption is something supposed or taken for granted. You have to consider the following assumption and decide which of the assumption is implicit in the statement. Statement: About a year ago, Prime Minister Narendra Modi had told the world that the signature of a chartered accountant on financial statements was, perhaps, more powerful than even one of his own. ‘Just like doctors don’t want people to be ill to get more business, chartered accountants, too, need to safeguard the society’s economic health. Your signature is more powerful than the PM’s, and the government also believes the accounts signed by you’, Modi had said.  Assumptions: I. The CA community, however, may not have woken up to the value of the initials they put on financial statements. Last year has been more of a challenge for the community’s reputation, with banking frauds, asset quality divergences and mid-term auditor resignations dominating the headlines.  II. There cannot be a situation where there will be 100% agreement on everything. You may have rules but still judgmental factors in credit, asset recognition come in. The approach is that as soon as the asset is stretched, banks have to recognise the problem.  III. But even basic logic just went out of the window and banks together kept dishing out loans to such companies even when their annual turnover was half of the total debt.