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Class 12 Accountancy
Analysis Of Financial Statements
Quiz 2
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In a common-size Balance Sheet, total equity and liabilities are assumed to be equal to :
0%
1,000
0%
100
0%
10
0%
1
Explanation
100
Break-even point refers to that point where :
0%
Total Costs are more than Total Sales
0%
Total Costs are less than Total Sales
0%
Total Costs are half of the Total Sales
0%
Total Cost are equal to total sales
Explanation
Total Cost are equal to total sales
Payment of Income Tax is considered as :
0%
Direct Expenses
0%
Indirect Expenses
0%
Operating Expenses
0%
None of these
Explanation
Indirect Expenses
Financial analysis is useful:
0%
For Investors
0%
For Shareholders
0%
For Debenture holders
0%
All the above
Explanation
All the above
Analysis of financial statements involve :
0%
Trading A/c
0%
Profit & Loss statement
0%
Balance Sheet
0%
All the above
Explanation
All the above
Financial analysis is significant because it:
0%
Ignores qualitative aspect
0%
Judges operational efficiency
0%
Suffers from the limitations of financial statements
0%
It is affected by personal ability and bias of the analysis
Explanation
Judges operational efficiency
What is shown by the Income Statement ?
0%
Accuracy of books of accounts
0%
Profit or loss of a certain period
0%
Balance of Cash Book
0%
None of these
Explanation
Profit or loss of a certain period
What is shown by Balance Sheet ?
0%
Accuracy of books of accounts
0%
Profit or loss of a specific period
0%
Financial position on a specific date
0%
None of the above
Explanation
Financial position on a specific date
Which of the following is the purpose or objective of financial analysis ?
0%
To assess the current profitability of the firm
0%
To measure the solvency of the firm
0%
To assess the short-term and long-term liquidity position of the firm
0%
All the above
Explanation
All the above
Out of the following which parties are interested in financial statements ?
0%
Managers
0%
Financial Institutions
0%
Creditors
0%
All the these
Explanation
All the these
Which of the following is not a limitations of financial statement analysis ?
0%
To measure the financial strength
0%
Affected by window-dressing
0%
Do not reflect changes in price level
0%
Lack of Qualitative Analysis
Explanation
To measure the financial strength
Break-even Analysis shows:
0%
Relationship between cost and sales
0%
Relationship between production and purchases
0%
Relationship between cost and revenue
0%
None of these
Explanation
Relationship between cost and sales
Which of the following shows the actual financial position of n enterprise ?
0%
Fund Flow
0%
Balance Sheet
0%
P & L A/c
0%
Ratio Analysis
Explanation
Balance Sheet
The financial statements of a business enterprise include:
0%
Balance Sheet
0%
Profit & Loss Account
0%
Cash Flow Statement
0%
All the above
Explanation
All the above
An annual report is issued by company to its :
0%
Directors
0%
Auditors
0%
Shareholders
0%
Management
Explanation
Shareholders
Balance Sheet provides information about financial position of the enterprise :
0%
At a Point of Time
0%
Over a Period of Time
0%
For a Period of Time
0%
None of the above
Explanation
At a Point of Time
Profit & Loss Account is also called :
0%
Balance Sheet
0%
Income Statements
0%
Operating Profit
0%
Investment
Explanation
Income Statements
Which of the following statement is correct ?
0%
Assets = Liabilities + Shareholders funds
0%
Assets = Total funds
0%
Assets = Funds of outsiders . (d) None of the above
Explanation
Assets = Liabilities + Shareholders funds
In which meeting of company directors report is presented ?
0%
Directors Meeting
0%
Annual General Meeting
0%
Manager’s Meeting
0%
All of the above
Explanation
Annual General Meeting
On the basis of process, which of the following is the type of financial analysis ?
0%
Horizontal Analysis
0%
Vertical Analysis
0%
Ratio Analysis
0%
(a) and (b) both
Explanation
(a) and (b) both
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