Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

I need the answer as soon as possible Please do only if u can do in 5 minutes or else let others try. 27 Indicate

I need the answer as soon as possible image text in transcribed

Please do only if u can do in 5 minutes or else let others try. 27 Indicate the fallacy in the undermentioned cases : (i) In a hospital, the number of patients in a year totalled 10,000. The cost of running the hospital was Rs. 50,00,000. The accountant proposes to charge Rs. 500 from each patient. (ii) A truck operator spends on the average Rs. 20,000 in a month, he carries 1,000 tons in a month, the distance involved being different from customer to customer. The accountant proposes to charge Rs. 25 (Rs. 5 to cover profit) per ton. (ii) A power house consumes 30,000 tons of coal every month @ Rs. 500 per ton. Coal ash of 1,500 tons is produced every month. The accountant says the cost of coal used 28,500 tons @ Rs. 500 or Rs. 1,42,50,000. (iv) In a motor repair works, the cost for a job is worked out by adding the cost of parts used and the wages paid to the worker involved

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: W. Steven Albrecht, James D. Stice, Earl Kay Stice, K. Fred Skousen, Albrecht S.E.

8th Edition

0324066708, 978-0324066708

More Books

Students explore these related Accounting questions