Q. According to prescribed order of assets in a Company’s Balance Sheet ……………………… assets should be shown first of all.
✅ Correct Answer: (A)
non-current assets
Analysis of Financial Statements MCQs and Notes
Q. Which of the following is not required to be prepared under the Companies Act?
✅ Correct Answer: (D)
funds flow statement
Q. As per Companies Act, the Balance Sheet of a company is required to be presented in ………………………
✅ Correct Answer: (B)
vertical form
Q. Balance sheet of a company is required to be prepared in the format given in ………………………
✅ Correct Answer: (B)
schedule iii part i
Q. Subtracting all expenses from revenues yields?
✅ Correct Answer: (A)
net profit / net loss
Q. Which statement shows the flow of cash and cash equivalents during the financial period?
✅ Correct Answer: (B)
cash flow statement
Q. Which of the following is true about financial statements?
A) Financial statement gives a summary of accounts. B) Financial statements can be stated as
recorded facts.
A) Financial statement gives a summary of accounts. B) Financial statements can be stated as
recorded facts.
✅ Correct Answer: (C)
both a and b
Q. The term ‘Financial Statement’ covers
✅ Correct Answer: (C)
profit & loss statement and balance sheet
Q. Which report gives a review on the profitability of a business?
✅ Correct Answer: (D)
income statement
Q. Funds are required for the..........
✅ Correct Answer: (D)
all of the above