Bissoy.com
Doctors Medicines MCQs Q&A

Assertion (A): Increasing the value of closing inventory increases profit.
Reason (R): Increasing the value of closing inventory reduces the cost of goods sold
In the context of the above two statements, which of the following is correct?

Assertion (A): Increasing the value of closing inventory increases profit.
Reason (R): Increasing the value of closing inventory reduces the cost of goods sold
In the context of the above two statements, which of the following is correct? Correct Answer Both (A) and (R) are correct

Related Questions

Assertion (A) Increasing the value of closing inventory increases profit.
Reason (R) Increasing the value of closing inventory reduces cost of goods sold.
Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R).  Assertion (A): If the firm is prepared to incur increased cost on transportation, it may be in a position to reduce its inventory cost  Reason (R) : As in such a case, the firm can use the fastest mode of transport and rush the goods / stocks to the desired warehouse, unmindful of the cost of transportation  In the context of the above two statements related to logistics management, which of the following options is correct  1. Both A) and R) true and R) is the correct explanation of A) 2. Both A) and R) true but R) is NOT the correct explanation of A) 3. A) is true but R) is false 4. A) is false but R) is true 
An assertion and a reason are given below. Assertion: The phenomenon of nuclear fission generates great energy. Reason: The process in which a nucleus is broken into two parts is called nuclear fission. Choose the answer. A. Both Assertion and Reason are true and Reason is the correct explanation of Assertion. B. Both Assertion and Reason are true but Reason is not the correct explanation of Assertion. C. Both Assertion and Reason are false. D. Assertion is true but Reason is false.
Consider the following statements.
1. Inventory includes raw material, finished goods and goods in process.
2. Inventory is the part of working capital.
3. Inventory includes goods likely to be purchased in the coming months.
Which of the statements given above are correct?
A and B bought two goods for Rs. 6000 and Rs. 4000 respectively. The selling price of B’s goods was 25% more than its cost price whereas the selling price of A’s goods was x% more than its cost price. If the selling price of A’s goods was Rs. 2500 more than the selling price of B’s goods, then find the ratio between selling price of A’s goods and cost price of B’s goods?
Given below are two statements - one labelled as Assertion (A) and the labelled as Reason (R) Assertion (A): From about 1715 Bengali merchants preferred to opt for English carriage service and utilize English vessels fro their freight traffic. Reason (R): In entrusting their goods to a private English ship, they were in fact entrusting goods to the company, whose privileges private Englishman enjoyed. In the context of the above two statements which of the following is correct?
Which of the following statements are correct?
I. Inventory includes raw materials, finished goods and work-in-progress.
II. Inventory is a part of the working capital.
III. Inventory includes goods likely to be purchased.
Seven chocolates, A, B, C, D, E, F and G, are bought at different costs between Rs. 40 and Rs. 50 (excluding both Rs. 40 and Rs. 50) but not necessarily in the same order. The cost of chocolate C is Rs. 5 less than that of chocolate E. The cost of chocolate A is a prime number. The cost of chocolate F is Rs. 2 more than that of chocolate A. The cost of chocolate F is more than that of chocolate E. The cost of chocolate D is an odd number. The cost of chocolate G is Rs. 3 more than the cost of chocolate D. None of the chocolates cost Rs. 44. The cost of chocolate B is an even number. What is the cost of chocolate E?
The following are the conditions for selecting list of a suitable candidates to be called for interview after the written test for the recruitment is conducted/organized for management - level persons for a multi - national company. For providing accounting services and sales the candidate must (a) be holding a graduation in basic science with 65% or above or B.E. degree with 55% and above marks (b) have passed the written test with 70% or above marks (c) the age must be in the group 25 to 30 years as on 1/4/18 (d) have experience in an accounting firms for three years and diploma in accounting with 60% or above marks (e)  be presently drawing CTC of 6 Lakhs per annum and above In case the applicant who satisfies all other terms above except 1) at (a) above, then be referred as Junior Accountant 2) at (d) & (e) above then be referred as Trainee - Accountant Satisfying all the above with experience of 5 years then the referred as senior-Accountant Satisfying all the above criteria (a - e) with CA/ICWA/MBA (Finance) then be referred as manager (Accounts) Read all the above information and answer the following question Praveen has done his Masters in physics. He has no experience in accounting neither diploma. He is ready to be on training for accounting after joining. For which position he may be referred
The following are the conditions for selecting a list of suitable candidates to be called for interview after the written test for the recruitment is conducted/ organized for management-level persons for a multi-national company. For providing accounting services and sales the candidate must (a) beholding graduation in basic science with 65% or above or B.E. degree with 55% and above marks (b) have passed the written test with 70% or above marks (c) the age must be in the group 25 to 30 years as on 1/4/18 (d) have experience in an accounting firm for three years and a diploma in accounting with 60% or above marks e) be presently drawing CTC 6 lakhs per annum and above In case the applicant who satisfies all other terms above except 1) at (a) above, then be referred to as Junior Accountant 2) at (d) & (e) above then be referred to as Trainee-Accountant Satisfying all the above with experience of 5 years then be referred to as senior-Accountant Satisfying all the above criteria (a-e) with CA/ICWA/MBA (Finance) then be referred to as manager (Accounts) Read all the above information and answer the following question   Praveen has done his Masters in physics. He has no experience in accounting neither diploma. He is ready to be on training for accounting after joining. For which position he may be referred.