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Question
Main objective of the Common Size Balance Sheet is:
Options
to present changes in assets and liabilities.
to present changes in various items of income and expenses.
to establish a relationship between Revenue from Operations and other items of Statement of Profit and Loss.
all of the above
MCQ
Solution
to present changes in assets and liabilities.
Explanation:
The main goal of a Common Size Balance Sheet is to show changes in assets and liabilities. The primary goal of the Comparative Statement of Profit and Loss is to create a relationship between Revenue from Operations and the other items on the Statement of Profit and Loss.
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