Question : Assertion A: - For inter-firm comparison, it is necessary that accounting practices followed by the firms do not vary significantly. As there may be variations in accounting practices followed by different firms, a meaningful comparison of their financial statements is not possible.

Reason R: - Analysis of financial statements is based on the information given in the financial statements. Hence, this analysis suffers from various limitations from which the financial statements.

Option 1: Both Assertion A and reason R are correct but the reason R is not the correct explanation of Assertion A 

Option 2: Both Assertion A and reason R are correct but the reason R is the correct explanation of Assertion A

Option 3: Both Assertion A is correct but the reason R is not correct

Option 4: Both Assertion A and Reason R are not correct

Question : Comprehension:
In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.

Daniel talks to people about the right to life. He says, “We have the right to live in freedom and safety!” but the people do not (1)_______ and they say that the War is a big deal and it is not up to us nor up to the government. The government knows what to do and only the government can decide (2)______ is best. And if the government says that there must be war, then it must be so. Daniel does not accept this and asks if there is a better solution. As all wars end with agreements, can’t we make the agreements without fighting? Can’t the government solve this (3)_________? Isn’t that the reason we have a government in the first place? He decides to (4)______ to people in his government. He decides to write to them and let them know what he thinks. He knows one opinion does not matter much, but he also knows that if everyone in his own country and on the other side would do this, there will (5)________ be no more wars.

Question:

Select the most appropriate option to fill in the blank number 1.

Option 1: grant

Option 2: agree

Option 3: consent

Option 4: announce

Question : A sum of Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will the same sum become in 3 years?

Option 1: Rs. 1025

Option 2: Rs. 1042

Option 3: Rs. 1052

Option 4: Rs. 1024

Question :

Find out the most appropriate word to replace the following set of words:

Open and unashamed

Option 1: Audacious

Option 2: Gregarious

Option 3: Blatant

Option 4: Precarious

Option 5: Glorious

Question : Case Study 30

LMN Corporation is a conglomerate that has executed trades on a stock exchange. The company's management is preparing for the settlement process.

Question : 

What does the settlement process involve after LMN Corporation executes trades on the stock exchange?

Option 1: Selecting a broker
 

Option 2: Matching buy and sell orders
 

Option 3: Transferring ownership and funds

Option 4: Opening a demat account