English

Answer in one sentence only. Give any three examples of current assets?

Advertisements
Advertisements

Question

Answer in one sentence only.

Give any three examples of current assets?

One Line Answer
Advertisements

Solution

Cash or cash equivalent short-term lending and advances, expenses paid in advance, taxes paid in advance, etc. are the examples of current assets.

shaalaa.com
  Is there an error in this question or solution?
Chapter 9: Analysis of Financial Statements - Exercise 9.1 (Objective Questions) [Page 376]

APPEARS IN

Balbharati Book-Keeping and Accountancy [English] Standard 12 Maharashtra State Board
Chapter 9 Analysis of Financial Statements
Exercise 9.1 (Objective Questions) | Q C. 6. | Page 376

Video TutorialsVIEW ALL [1]

RELATED QUESTIONS

Give one word/term/phrase for the following statement.

An asset which can be converted into cash immediately.


State the objectives of financial statements from the view point of a business concern.


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.


State the significance of Analysis of Financial Statements to the ‘Lenders’.


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 are true or false :
Financial statements include only balance sheet.


State whether following statement is true or false :
Analysis of financial statement is a tool but not a remedy.


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:
The methodical classification of financial statement is called _____________.


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 :
State any three limitations of Analysis of financial statement.


What is ‘analysis’ of financial statement?


The Common Size Statement requires _________.


Bill Payable is ___________


Give one word/term/phrase for the following statement.

Activity related to acquisition of long term assets and investment.


State true or false with reason.

Financial Statement includes only Balance Sheet.


State true or false with reason.

Dividend paid is not a source of fund


State true or false with reason.

The short term deposits are considered as cash equivalent.


State true or false with reason.

Ratio analysis measures profitability efficiency and financial soundness of the business.


Answer in one sentence only.

State the formula of Cost of goods sold?


Balance sheet provides information about the financial position of a business concern


The term fund’ refers to


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


It is technique which involves regrouping of data by application of arithmetical relationships. Identify the technique and state any two advantages of the technique identified.


Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×