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Financial Statement Analysis Multiple Choice Questions and Answers | Financial Statement Analysis MCQ Quiz

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Free download in PDF Financial Statement Analysis Multiple Choice Questions and Answers for competitive exams. These short objective type questions with answers are very important for Board exams as well as competitive exams like UPSC, NDA, SSC etc. These short solved questions or quizzes are provided by Gkseries./p>

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(1) The form of balance sheet is
[A] Vertical
[B] Horizontal
[C] Horizontal and vertical
[D] Horizontal or vertical
Answer: Horizontal or vertical
(2) The term current asset doesn’t cover
[A] Car
[B] Debtors
[C] Stock
[D] Prepaid expenses
Answer: Car

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(3) P&L statement is also known as
[A] Statement of operations
[B] Statement of income
[C] Statement of earnings
[D] All of the above
Answer: Statement of income
(4) 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] Only A
[B] Only B
[C] Both A and B
[D] None of the above
Answer: Both A and B
(5) The statement of financial position and the balance sheet are synonyms.
[A] True
[B] False
Answer: True
(6) Schedules attached with the balance sheet forms a part of the financial statements.
[A] True
[B] False
Answer: True
(7) Which of the following statements are true?

A) Financial statements are only interim report.

B) Financial statements are also known as annual records.

C) Financial statements are historic.

[A] Both A and B
[B] Both A and C
[C] Both B and C
[D] A, B, C
Answer: Both B and C
(8) Certain assumptions are essential to prepare financial statements.
[A] True
[B] False
Answer: True
(9) The only feasible purpose of financial management is
[A] Wealth Maximization
[B] Sales Maximization
[C] Profit Maximization
[D] Assets maximization
Answer: Wealth Maximization
(10) Financial management process deals with
[A] Investments
[B] Financing decisions
[C] Both a and b
[D] None of the above
Answer: Financing decisions

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