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Assertion (A) Increasing the value of closing inventory increases profit.
Reason (R) Increasing the value of closing inventory reduces cost of goods sold.

Assertion (A) Increasing the value of closing inventory increases profit.
Reason (R) Increasing the value of closing inventory reduces cost of goods sold. Correct Answer Both (A) and (R) are true

Related Questions

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?
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?
A company sold six different cars Swift, Santro, Creta, Audi, I10 and Magna during a period of Monday to Saturday. Only one car was sold on a particular day. No car was sold twice. Atleast four cars were sold after the car Santro. The car Magna was sold on Tuesday. The car Audi was sold immediately after the car Creta and car Creta was sold atleast before three cars. Both the cars Santro and I10 were sold atleast before one car. On which day was Swift car sold?
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.
There are six dealers - P, Q, R, S, T and U, of electronic appliances who have sold the different number of appliances - 25, 37, 40, 41, 45 and 46 in a particular month (not necessarily in the same order). T has not sold the highest number of appliances but has sold more than P. The number of appliances R has sold is in a multiple of 2. The number of appliances U sold is in a perfect square. Q has sold more appliances than R but less than T. P has sold more appliances than U but less than R. Who among the following has sold the third highest number of appliances?
There are two shops A and B which sold crackers on Diwali on 3 days – Monday, Tuesday and Wednesday. The average number of crackers A and B sold in the three days is 21 and 25 respectively. The number of crackers shops A sold on Wednesday is double than the number of crackers it sold on Tuesday. The number of crackers A sold on Wednesday is one more than the number of crackers B sold on the same day. B sold 10 more crackers on Tuesday than A. Find the difference in the number of crackers A and B sold on Monday?
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?
Given figures showing : Sales Taka 8,200, Opening inventory Taka 1,300, Closing inventory Taka 900, Purchases Taka 6+,400, Carriage inwards Taka 200, the cost of goods sold figure is :
Given: Opening inventory Rs. 3,500; Closing inventory Rs. 1,500; Cost of goods sold Rs. 22,000. What is the amount of purchase?
Carlos Company had Beginning inventory of TA. 80,000, ending inventory of TA. 110,000 cost of goods sold of TA. 285,000 and sales of TK 475. 000 Carlos's days in inventory is: