|1 Crore+ students have signed up on EduRev. Have you? Download the App|
Which of the following is a fixed intangible asset?
Titles and Mastheads are shown under the heading of Intangible assets.
Which section of the Companies Act requires that Balance Sheet is to be prepared in the prescribed form?
1. Section 129 of companies act 2013, provides for preparation of financial statements.
2. 2(40) to include balance sheet, profit and loss account/income and expenditure account, cash flow statement, statement of changes in equity and any explanatory note annexed to the above.
Computer software is shown under the __________
Computer software is an intangible asset. It shown under the heading of Fixed Assets and sub heading Intangible Assets.
Prepaid expenses are shown under____________
Prepaid expenses are those expenses which paid in advance by the firm. These expenses are shown under other current assets.
Work in progress is shown under____________
Work in progress is shown under the heading of current assets and sub heading Inventories. But capital work in progress is shown under the fixed assets.
Which of the following items appear in the Balance sheet
Stores and spares comes in balance sheet under the heading Inventories. Following items do not take place in Balance Sheet:
Which of the following items appear in the Statement of Profit and Loss
Sales appear in the Statement of Profit and Loss and the following items are shown in the balance sheet:
The information available from the Analysis, serves which of the following sections
Information available from the analysis of financial statement will serve the following:
•Economist and Researchers
When analysis is made on the basis of Published statements, reports and information it is known as…..
When analysis is made on the basis of Published statements, reports and information it is known as External Analysis.
Who is interested in the analysis of financial statement?
Following parties are interested in the Financial statement analysis:
The Real object of Analysis of Financial Statement is …………
The main objective of analysis of financial statement is to measure the financial strength of the firm.
Following are the limitations of financial analysis except
Following are the limitations of financial statement analysis:
•Don't reflect changes in price level.
•Affected by the personal ability and bias of the Analyst
•Single years' Analysis of financial statement have limited use.
When single set of statements of two firms is compared, it is known as …….
When single set of statements of two firms is compared, it is known as Cross Sectional Analysis.
Analysis of Financial statements suffered from the limitation of window dressing which means….
Window dressing is the limitation of accounting which is directly concerned with:
hide some vital information
show items at incorrect value to portray better profitability
may overvalue closing stock to show higher profits
Shareholders are interested in the analysis of financial statement because….
Shareholders are interested in the analysis of financial statement because they want to judge the present and future earning capacity of the business.
Horizontal Analysis is:
Horizontal analysis is a time series analysis because it shows comparison of financial data for several years.
Comparative Financial Statement is an example of
Comparative financial statement is an example of Horizontal analysis because it requires comparative financial statements of two or more accounting periods.
Interpretation of accounts is the
Analysis conducted by the Investors and Creditors is known as:
Analysis conducted by the Investors and Creditors is known as External Analysis because they both are treated as outsiders.
It is a point where total of sales is exactly equal to the total of cost to the total of cost of sales
Break-even point is a point where total of sales is exactly equal to the total of cost to the total of cost of sales.