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

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Questions
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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