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12th Standard Accounts Financial Statement Analysis English Medium Free Online Test One Mark Questions 2020 - 2021

12th Standard

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Accountancy

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Which of the following statements is not true?

    (a)

    Notes and schedules also form part of financial statements

    (b)

    The tools of financial statement analysis include common-size statement

    (c)

    Trend analysis refers to the study of movement of figures for one year

    (d)

    The common–size statements show the relationship of various items with somecommon base, expressed as percentage of the common base

  2. Which of the following tools of financial statement analysis is suitable when data relating to several years are to be analysed?

    (a)

    Cash flow statement

    (b)

    Common size statement

    (c)

    Comparative statement

    (d)

    Trend analysis

  3. Which of the following is not a tool of financial statement analysis?

    (a)

    Trend analysis

    (b)

    Common size statement

    (c)

    Comparative statement

    (d)

    Standard costing

  4. Which of the following statements is not true?

    (a)

    All the limitations of financial statements are applicable to financial statement analysis also.

    (b)

    Financial statement analysis is only the means and not an end.

    (c)

    Expert knowledge is not required in analysing the financial statements

    (d)

    Interpretation of the analysed data involves personal judgement

  5. In a common-size balance sheet, if the percentage of non-current assets is 75, what would be the percentage of current assets?

    (a)

    175

    (b)

    125

    (c)

    25

    (d)

    100

  6. Which statement are prepared by the business concerns at the end of the accounting period to ascertain the operating results and the financial position?

    (a)

    Trend analysis

    (b)

    Income statement

    (c)

    Financial statement

    (d)

    Balance sheet

  7. which statements are involve personal judgment in certain cases?

    (a)

    Financial statements

    (b)

    Income statement

    (c)

    Profit and loss account statement

    (d)

    None of these

  8. Common size statement can be prepared with

    (a)

    double column

    (b)

    single column

    (c)

    three columns

    (d)

    five columns

  9. Interpretation of accounts is the

    (a)

    art and science of translating the figures

    (b)

    to know financial strengths and weakness of a business

    (c)

    to know the causes for the prevailing performance of business

    (d)

    all of the above

  10. _____________ includes both analysis and interpretation.

    (a)

    Financial statement analysis

    (b)

    Trend analysis

    (c)

    Both 'a' and 'b'

    (d)

    None of these

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