Maharashtra State BoardHSC Arts 12th Board Exam
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Select the Appropriate Answer from the Alternatives Given Below and Rewrite the Completed Statements : - Book Keeping and Accountancy

MCQ

Select the appropriate answer from the alternatives given below & rewrite the completed statement:
The methodical classification of financial statement is called _____________.

Options

  • an interpretation

  • an analysis

  • ratio

  •  profit and loss A/c

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Solution

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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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 12 Analysis of Financial Statements
Exercise | Q 1 | Page 384
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