Assertion (A): A Bank Reconciliation Statement is a part of the books of accounts. Reason (R): It is prepared to find out the correct bank balance. Choose the correct option:
A.A is true but R is false.
B.A is false but R is true.
C.Both A and R are true and R is the correct explanation of A.
D.Both A and R are true but R is not the correct explanation of A.
S1: ABC analysis is a technique of inventory control. S2: In ABC analysis, 'A' items represent high value and low quantity. Which statement(s) is/are correct?
Explanation:
ABC analysis classifies inventory based on usage value. 'A' items are the most valuable, typically representing a small percentage of total quantity but a large percentage of total inventory cost. Both statements are correct.
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