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प्रश्न
Select the appropriate answer from the alternatives given below & rewrite the completed statement:
The methodical classification of financial statement is called _____________.
विकल्प
an interpretation
an analysis
ratio
profit and loss A/c
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उत्तर
The methodical classification of financial statement is called an analysis.
Explanation: The classification of financial statement is done to evaluate the health of a business concern. The methodical classification of the items in the financial statements helps to analyse and draw various conclusions regarding profitability, efficiency, liquidity and financial position of the business.
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संबंधित प्रश्न
Give one word/term/phrase for the following statement.
An asset which can be converted into cash immediately.
Capital balance is ascertained by preparing....................................
- Statement of affairs
- Cash account
- Drawing account
- Debtor’s account
Balance sheet is a nominal account.
State the objectives of financial statements from the view point of a business concern.
What do you mean by Analysis of Financial Statement?
One of the objectives of ‘Financial Statements Analysis’ is to identify the reasons for change in the financial position of the enterprise, State two more objectives of this analysis.
JW Ltd. was a company manufacturing geysers. As a part of its long-term goal for an expansion, the company decided to identify the opportunity in rural areas. The initial plan was rolled out for Bhiwani village in Haryana. Since the village did not have a regular supply of electricity, the company decided to manufacture solar geysers. The core team consisting of the Regional Manager, Accountant and the Marketing Manager was taken from the Head Office and the remaining employees were selected from the village and neighbourhood areas. At the time of preparation of financial statements, the accountant of the company fell sick and the company debuted a junior accountant temporarily from the village for two months. The Balance Sheet prepared by the junior accountant showed the following items against the Major Heads and Sub-heads mentioned which were not as per Schedule III of the Companies Act, 2013.
| Items | Major Head/Sub-Head |
| Loose Tools | Trade Receivables |
| Cheques in Hand | Current Investments |
| Term Loan from Bank | Other Long-term Liabilities |
| Computer Software | Tangible Fixed Assets |
Identify any two values that the company wants to communicate to the society. Also, present the above items under the correct major heads and sub-heads as per Schedule III of the Companies Act, 2013.
From the following information of a club show the amounts of match expenses and match fund in the Financial Statement of the Club for the year ended on 31st March, 2009 and 31st March, 2010.
|
Details |
Amount Rs |
|
Match expenses (Paid during the year 2009-2010) |
30,000 |
|
Match Fund (as on 31-3-2009) |
17,000 |
|
Donation for Match Fund (Received during the year 2009 – 2010) |
9,000 |
|
Proceeds from the sale of match tickets (Received during the year 2009-2010) |
3,000 |
State whether following statement is true or false :
Government is not interested in analysis of financial statement.
Select the appropriate answer from the alternatives given below & rewrite the completed statement
Bills payable is _____________.
Select the appropriate answer from the alternatives given below & rewrite the completed statement
From financial statement analysis, the creditors are interested to know _____________.
Answer the following in brief :
What do you mean by analysis of financial statements?
Answer the following in brief :
State any three limitations of Analysis of financial statement.
State whether following statement is true or false :
Analysis of financial statement is a tool but not a remedy.
Explain the limitations of analysis of financial statements.
Bill Payable is ___________
Give one word/term/phrase for the following statement.
The statement showing financial position for different periods of previous year and current year.
State true or false with reason.
The short term deposits are considered as cash equivalent.
Answer in one sentence only.
State the formula of Cost of goods sold?
Prepare Comparative Balance Sheet for the year ended 31.3.18 and 31.3.19 Assets & Liabilities as follows:
| Particulars | 31.3.18 (₹) | 31.3.19 (₹) |
| 1) Fixed Assets | 120,000 | 1,50,000 |
| 2) Share Capital | 60,000 | 72,000 |
| 3) Current Assets | 28,000 | 27,000 |
| 4) Reserve & Surplus | 24,000 | 30,000 |
| 5) Loan | 34,000 | 51,000 |
| 6) Current liabilities | 30,000 | 24,000 |
Which of the following statements is not true?
Balance sheet provides information about the financial position of a business concern
Following is the Balance Sheet of Mahi Traders for the year ended 31-3-2018 and 31-3-2019:
| Liabilities | 31-03-2018 (₹) | 31-03-2019 (₹) | Assets | 31-03-2018 (₹) | 31-03-2019 (₹) |
| Equity Share Capital | 1,60,000 | 1,60,000 | Fixed Assets | 2,40,000 | 2,88,000 |
| Pref. Shares Capital | 40,000 | 40,000 | Investment | 40,000 | 40,000 |
| Reserve and Surplus | 40,000 | 48,000 | Current Assets | 1,20,000 | 96,000 |
| Secured Loan | 80,000 | 32,000 | |||
| Unsecured Loan | 40,000 | 72,000 | |||
| Current Liabilities | 40,000 | 72,000 | |||
| 4,00,000 | 4,24,000 | 4,00,000 | 4,24,000 |
Prepare Common Size Balance Sheet for the year 31-03-2018 and 31-03-2019
Which of the following is a tool of Analysis of Financial Statements?
Under which major heads and sub-heads will the following items be presented in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013?
- Bills Receivable
- Securities premium reserve
- Calls in advance
Which of the following are not tools of Financial Analysis?
- Cash Flow Statement
- Income Statement
- Balance Sheet
- Ratio Analysis
