The principle of prudence requires that when making accounting estimates or determining the value of assets or liabilities, a degree of caution should be exercised. This means that potential losses should be recognized in the financial statements, even if they have not yet occurred, while potential gains should only be recognized when they are realized. In the case of inventories, the principle of prudence suggests that inventories should be valued at the lower of cost or net realizable value to ensure that the carrying amount of inventories in the financial statements is not overstated.
By selling two articles for Rs.800, a person gains the cost price of 5 articles. The profit percent is.
If the cost price of 5 items is equal to the selling price of 8 items, then what will be the profit or loss percentage?
The price of an article marked at 30% above cost price is sold at a profit of 25%. If it were to be sold at a discount of 25%, ind the percentage decrea...
A shopkeeper sold an article at profit of 10%. Had he bought it at 10% less and sold it for Rs. 3 more, then he would have earned a profit of 25%. Find ...
18 kg of sugar costing Rs. 40 per kg is mixed with 12 kg of sugar costing Rs. z per kg. If the cost of the mixture is Rs. 45 per ...
A bought a laptop for Rs.20000. He spent 20% of the amount that he had paid for buying it for its repair. He then sold the laptop to B and earned a prof...
A seller sells an item for Rs. 225.50 and incurs a loss of 18%. At what price should the item be sold in order to achieve a profi...
Rahul sold a computer after giving a discount of 10% and earned a profit of Rs. 1200. If he had sold it for Rs. 300 less, he would have earned a profit ...
The profit percentage earned by selling a center table for Rs 13440 is equal to the loss percentage earned by selling the same center table for Rs 10560...
If a product is offered two successive discounts of 19% and 20%, what is the equivalent single discount?
