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question_answer1) Directions: Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: Assertion (A): Prepaid expenses are not considered as Liquid asset. Reason (R): Prepaid expenses cannot be converted into cash.
question_answer2) Directions: Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: Assertion (A): Liquid ratio reveals strength of liquidity of a business unit. Reason (R): Liquid ratio analysis liquid assets and liquid liabilities of a business unit in order to assess the extent of Liquidity.
question_answer3) Directions: Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: Assertion (A): Proprietory ratio establishes relationship between proprietors fund and total assets. Reason (R):The objective of calculating proprietory ratio is to measure proportion of fixed assets financed by shareholder's funds.
question_answer4) Directions: Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: Assertion (A): Current ratio establishes relationship between current assets and current liabilities. Reason (R): Current ratio is a part of activity ratio.
question_answer5) Directions: Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: Assertion (A): Gross profit is the sum of Revenue from operations and cost of revenue from operations. Reason (R): Gross profit helps in fixing selling prices and assessing efficiency of trading activities.
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