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Question
Balance sheet provides information about the financial position of a business concern
Options
Over a period of time
As on a particular date
For a period of time
For the accounting period
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Solution
As on a particular date
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RELATED QUESTIONS
Capital balance is ascertained by preparing....................................
- Statement of affairs
- Cash account
- Drawing account
- Debtor’s account
State the objectives of financial statements from the view point of a business concern.
What do you mean by Analysis of Financial Statement?
State and explain any 'four objectives' of financial statement analysis from the business point of view.
State whether following statement are true or false :
Financial statements include only balance sheet.
Select the appropriate answer from the alternatives given below & rewrite the completed statement
Cash proceeds from issue of debentures is _______________.
Answer the following in brief :
What do you mean by analysis of financial statements?
State true or false with reason.
The short term deposits are considered as cash equivalent.
Which of the following is a tool of Analysis of Financial Statements?
Convert the following Trading and Profit and Loss Account into Vertical Income Statement:
| Dr. | Trading, Profit and Loss Account (for the year ended 31st March, 2020) |
Cr. | |
| Particulars | Amount (₹) |
Particulars | Amount (₹) |
| To Opening stock | 50,000 | By Sales | 6,00,000 |
| To Purchases | 4,50,000 | By Closing Stock | 1,50,000 |
| To Carriage | 20,000 | ||
| To Direct expenses | 30,000 | ||
| To Wages | 50,000 | ||
| To Gross Profit c/d | 1,50,000 | ||
| Total | 7,50,000 | 7,50,000 | |
| To Office expenses | 62,500 | By Gross Profit b/d | 1,50,000 |
| To Finance expenses | 15,000 | ||
| To Selling expenses | 50,000 | ||
| To Net Profit c/d | 22,500 | ||
| Total | 1,50,000 | 1,50,000 | |
