Financial Statements and Analysis Test

Result

Financial Statements and Analysis Test - 5

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Weekly Quiz Competition

Question 1
1 / -0

What are the objectives of financial statement

A
To provide information about economic resource

B
To provide information about cash flows

C
To judge effectiveness of management

D
All of these

Solution

All of these
Question 2
1 / -0

What are the importance of financial statement

A
Disclosing accounting policies

B
information about activities of business affecting the society

C
report on stewarding function

D
all of these

Solution

report on stewarding function
Question 3
1 / -0

As which act companies is revised schedule VI

A
1956

B
1965

C
1978

D
1989

Solution

1956
Question 4
1 / -0

Assets are divide in to

A
1

B
10

C
8

D
2

Solution

2
Question 5
1 / -0

Reserve and surplus are comes in which head

A
fixed assets

B
non current liability

C
shareholder funds

D
assets

Solution

shareholder funds
Question 6
1 / -0

Which of the following items appear in the Balance sheet

A
Purchase

B
Sales

C
Expenses

D
Store and spares

Solution

Stores and spares comes in balance sheet under the heading Inventories. Following items do not take place in Balance Sheet:
•Sales
•Purchase
•Expenses

Sales ,Purchases and Expenses are a art of Statement of Profit and Loss,not Balance Sheet.
Question 7
1 / -0

Which of the following items appear in the Statement of Profit and Loss

A
Creditors

B
Goodwill

C
Sales

D
Trade payables

Solution

Sales appear in the Statement of Profit and Loss and the following items are shown in the balance sheet:
•Creditors
•Goodwill
•Trade Payables
Question 8
1 / -0

The information available from the Analysis, serves which of the following sections

A
Stock Exchange

B
Economist and Researchers

C
Potential Investors

D
All of these

Solution

Information available from the analysis of financial statement will serve the following:
•Potential Investors (to make decisions regarding investment)
•Economist and Researchers(to make policies)
•Stock Exchange(to know about company's worth and market standing)
Question 9
1 / -0

When analysis is made on the basis of Published statements, reports and information it is known as…..

A
Vertical Analysis

B
Internal Analysis

C
External analysis

D
Horizontal analysis

Solution

Analysis made by external users on the basis of published financial statements is called external analysis. Only an external user may have to use published statements; an internal user has access to all accounting records, he would not have to depend on and wait for the information to be published and they can do internal analysis throughout the year.
Question 10
1 / -0

Who is interested in the analysis of financial statement?

A
Government

B
Creditors

C
Investors

D
All of these:

Solution

Following parties are interested in the Financial statement analysis:
Creditors(to know if they will get their payment)
Government( to levy taxes)
Investors(to know how return on their investment)

User

Question Analysis

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Re-Attempt Weekly Quiz Competition

Financial Statements and Analysis Test - 5

Result

Financial Statements and Analysis Test - 5

Score

-

Rank

-

SHARING IS CARING

Question 1

To provide information about economic resource

To provide information about cash flows

To judge effectiveness of management

All of these

Solution

Question 2

Disclosing accounting policies

information about activities of business affecting the society

report on stewarding function

all of these

Solution

Question 3

1956

1965

1978

1989

Solution

Question 4

1

10

8

2

Solution

Question 5

fixed assets

non current liability

shareholder funds

assets

Solution

Question 6

Purchase

Sales

Expenses

Store and spares

Solution

Question 7

Creditors

Goodwill

Sales

Trade payables

Solution

Question 8

Stock Exchange

Economist and Researchers

Potential Investors

All of these

Solution

Question 9

Vertical Analysis

Internal Analysis

External analysis

Horizontal analysis

Solution

Question 10

Government

Creditors

Investors

All of these:

Solution

User

Question Analysis

My Perfomance

Score

-

Rank

-

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