HSC Commerce 12th Board ExamMaharashtra State Board
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Micheal Vaz solutions for 12th Board Exam Book Keeping and Accountancy chapter 12 - Analysis of Financial Statements

Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy

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Micheal Vaz Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy

Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy - Shaalaa.com

Chapter 12: Analysis of Financial Statements

Exercise

Chapter 12: Analysis of Financial Statements Exercise Exercise solutions [Page 384]

Exercise | Q 1 | Page 384

State whether following statement are true or false :
Financial statements include only balance sheet.

  • True 

  • False

Exercise | Q 2 | Page 384

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

  • True

  • False

Exercise | Q 3 | Page 384

State whether following statement is true or false :

Purchase of fixed asset is operating cash flow.

  • True

  • False

Exercise | Q 4 | Page 384

State whether following statement is true or false :
Gross profit depends upon net sales.

  • True

  • False

Exercise | Q 5 | Page 384

State whether following statement is true or false :

ROI is calculated on ownership capital only.

  • True

  • False

Exercise | Q 6 | Page 384

State whether following statement is true or false :
Net profit shows quick ratio.

  • True

  • False

Exercise | Q 7 | Page 384

State whether following statement is true or false :
Government is not interested in analysis of financial statement.

  • True

  • False

Exercise | Q 8 | Page 384

State whether following statement is true or false :
Ratio Analysis is useful for inter-firm comparison.

  • True

  • False

Chapter 12: Analysis of Financial Statements Exercise Exercise solutions [Page 384]

Exercise | Q 1 | Page 384

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

  • an interpretation

  • an analysis

  • ratio

  •  profit and loss A/c

Exercise | Q 2 | Page 384

Select the appropriate answer from the alternatives given below & rewrite the completed statement :
The common size statement requires _____________.

  • choose of common base

  •  journal entries

  •  cash and flow

  • current ratio

Exercise | Q 3 | Page 384

Select the appropriate answer from the alternatives given below & rewrite the completed statement :
The short term deposits are _______________.

  •  net cash

  • cash equivalent

  • cash flow

  • cash outflow

Exercise | Q 4 | Page 384

Select the appropriate answer from the alternatives given below & rewrite the completed statement

Cash proceeds from issue of debentures is _______________.

  • financial activity

  •  non financial activity

  • operating activity

  • trading activity

Exercise | Q 5 | Page 384

Select the appropriate answer from the alternatives given below & rewrite the completed statement
Bills payable is _____________.

  • Long term loan

  • Current liability

  • Liquid asset

  • Net loss

Exercise | Q 6 | Page 384

Select the appropriate answer from the alternatives given below & rewrite the completed statement
Generally current ratio should be _______________.

  •  2:1

  •  1:1

  •  3:1

  • 1:2

Exercise | Q 7 | Page 384

Select the appropriate answer from the alternatives given below & rewrite the completed statement
The relationship between net profit before Tax, interest and dividend and capital employed is known from _____________.

  • Current Ratio

  • Quick Ratio

  •  ROI

  • ROCE

Exercise | Q 8 | Page 384

Select the appropriate answer from the alternatives given below & rewrite the completed statement
From financial statement analysis, the creditors are interested to know _____________.

  • liquidity

  • profit

  • sale

  • share capital

Chapter 12: Analysis of Financial Statements Exercise Exercise solutions [Pages 384 - 385]

Exercise | Q 1 | Page 384

Give one word/term/ phrase for the following statement
Critical evaluation of financial statement to measure profitability.

Exercise | Q 2 | Page 384

Give one word/term/ phrase for the following statement
The statement showing profitability of two different period and its percentage change.

Exercise | Q 3 | Page 384

Give one word/term/ phrase for the following statement
The tool for analysis of financial statement where, individual figures of balance sheet is converted into percentage.

Exercise | Q 4 | Page 385

Give one word/term/ phrase for the following statement
The type of activity in cash flow analysis, involving purchase of fixed asset.

Exercise | Q 5 | Page 385

Give one word/term/ phrase for the following statement
A particular mathematical number showing relationship between two accounting figures.

Exercise | Q 6 | Page 385

Give one word/term/ phrase for the following statement
An asset which can be converted into cash immediately.

Exercise | Q 7 | Page 385

Give one word/term/ phrase for the following statement
The ratio measuring the relationship between gross profit and net sales.

Exercise | Q 8 | Page 385

Give one word/term/ phrase for the following statement
The ratio measuring the relationship between net profit and ownership capital employed.

Chapter 12: Analysis of Financial Statements Exercise Exercise solutions [Page 385]

Exercise | Q 1 | Page 385

Answer the following in brief :
What do you mean by analysis of financial statements?

 
Exercise | Q 2 | Page 385

Answer the following in brief :
State any three limitations of Analysis of financial statement.

Exercise | Q 3 | Page 385

Answer the following in brief :
What is comparative financial statement?

Exercise | Q 4 | Page 385

Answer the following in brief :
What are the different cash inflows and cash outflows of operating activity?

Exercise | Q 5 | Page 385

Answer the following in brief :
What is cash equivalent?

Exercise | Q 6 | Page 385

Answer the following in brief :
What are the components of current ratio?

Chapter 12: Analysis of Financial Statements Exercise Exercise solutions [Page 385]

Exercise | Q 1 | Page 385

Explain the following :
Operating profit.

Exercise | Q 2 | Page 385

Explain the following :
Quick assets

Exercise | Q 3 | Page 385

Explain the following :
ROI.

 
Exercise | Q 4 | Page 385

Explain the following :
Comparative income statement

Exercise | Q 5 | Page 385

Explain the following :
Common size balance sheet.

Exercise | Q 6 | Page 385

Explain the following :
Operating activities in cash flow.

Chapter 12: Analysis of Financial Statements Exercise Exercise solutions [Pages 385 - 386]

Exercise | Q 1 | Page 385

Solve the following:
In common size balance sheet fixed assets are Rs 50,000 and balance sheet total as Rs 1,50,000. Find out percentage of fixed assets to total assets.

Exercise | Q 2 | Page 385

Solve the following:
If current assets are Rs 2,50,000 and current liabilities are Rs 1,25,000. What will be current ratio?

Exercise | Q 3 | Page 385

Solve the following:
If gross profit as Rs 2,20,000 and operating expenses are Rs 85,000 and non operating expenses are Rs 30,000, find out operating profit.

Exercise | Q 4 | Page 385

Solve the following:
If total capital invested by company is Rs 5,00,000 and net profit before interest, tax and dividend is Rs 1,60,000, what is ROI?

Exercise | Q 5 | Page 386

Solve the following:
If office expenses of two different periods are Rs 4,000 and Rs 5,000 respectively and sales for same two periods are Rs 1,00,000 and Rs 2,00,000 respectively then what is absolute change and percentage?

Chapter 12: Analysis of Financial Statements

Exercise

Micheal Vaz Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy

Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy - Shaalaa.com

Micheal Vaz solutions for 12th Board Exam Book Keeping and Accountancy chapter 12 - Analysis of Financial Statements

Micheal Vaz solutions for 12th Board Exam Accounts chapter 12 (Analysis of Financial Statements) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in 12th Board Exam Book Keeping and Accountancy chapter 12 Analysis of Financial Statements are Comparative Statements, Common Size Statements, Cash Flow Analysis, Ratio Analysis and its Types, Concept of Accounting Ratios, Classification of Ratios, Introductions to Current Ratio, Introductions to Liquid Ratio, Introductions to Gross Profit Ratio, Operating Profit Ratio, Return on Investment (ROI), ROCE, Concept of Financial Statement Analysis.

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