LIFO (Last-In-First-Out) is a method of inventory valuation where the cost of the last goods purchased or produced is assumed to be the cost of goods sold first. However, Accounting Standards do not permit the use of LIFO in inventory valuation. This is because LIFO results in the reporting of lower profits and lower taxes during inflationary periods, which can lead to inconsistent financial reporting across companies. Instead, companies are required to use either FIFO (First-In-First-Out) or weighted average cost method for inventory valuation in accordance with the Accounting Standards.
This is bound to raise eyebrows (A) / given that the boundary with the neighboring country(B) / has seen heavy shelling and risen (C) / military and ...
Rama has(A)/ no taste(B)/ in classical music.(C)/ No error(D)
Finance Ministry in a notification said customs duty in open-cell (15.6-inch and above), (A) / for use in the manufacture of (B) / Liquid Crystal Displa...
Given below are sentences with an error in each. The error is in one part of the sentence. Below each sentence are given the options containing the par...
Identify the segment in the sentence, which contains the grammatical error.
The list of candidates to be called for the interview were put up ...
The awardees will be chosen for his contributions in education, health and rural development.
In the question given below, a sentence is given, divided into parts. One of the parts may contain an error. Identify the part that contains the error,...
Debt bondage and forced labour flourish (A)/because the Government has (B)/do nothing to ensure (C)/the economic security of labourers (D).
The CRR cut will only benefit the banks and not the industry, which is suffering of high interest rates and slow demand.
Directions: In each of the questions, a sentence has been divided into four parts, one of which may contain an error. Identify that fragment and mark ...
