Q1665
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.
Both (A) and (R) are correct
AnswerB.
Only (A) is correct
C.
Only (R) is correct
D.
Both (A) and (R) are incorrect
Answer: Option A
Solution
Answer: Option A
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