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

Sports GK Questions and Answers 2024 (Latest Updated)

Awards & Honours GK Questions 2024 (Latest Updated)

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
Advertisement
Article and Schedule Quiz Start Test!
DOWNLOAD CURRENT AFFAIRS PDF FROM APP
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

Random GK Questions

Q. For regulation and development of the insurance sector of the country the Government has formed :
Q. In India, disguised unemployment is generally observed in
Q. Which is the oldest Veda?
Q. The Anti-Defection Law was passed by the Indian Parliament in the year
Q. Lampbrush chromosomes are found inside
Q. The more mega store retail chain belongs to which Indian Industry?
Assam Direct Recruitment Test Series

Teacher Eligibility Test

Assam Direct Recruitment Test Series