Critical Reasoning – Implicit Assumptions Statement: The end of a financial year is the ideal time to review the performance of various companies. Assumptions: I. All companies undertake such a review at the end of a financial year. II. The performance data of various companies is available.

Introduction / Context:
The statement claims that the end of a financial year is an “ideal time” for performance review. We must detect which conditions must hold for such a review to be feasible and meaningful, without overstating universality.

Given Data / Assumptions:

• Claim: Financial-year end is ideal for reviewing company performance.
• Assumption I: All companies do this review at that time.
• Assumption II: Necessary performance data is available at that time.

Concept / Approach:
Calling a time “ideal” does not imply universal behavior; it suggests suitability, often because accounting closes and data crystallizes. The necessary condition is the availability of performance data for meaningful analysis, not that every company necessarily conducts the review then.

Step-by-Step Solution:

Verification / Alternative check:

Why Other Options Are Wrong:

Common Pitfalls:

Final Answer:
Only assumption II is implicit