Comparative Balance Sheet

Q. State the uses of cash flow statement.

Q.

Indian GST model is based on which country’s GST model?

Q. Describe the different techniques of financial analysis and explain the limitations of financial analysis.

Q.

What is the objective of the balance sheet?

Q.

The balance sheet shows …

1. the source of working capital

2. the change in working capital

3. Both the source of working capital and the change in working capital

4. None of these

Q.

Which one of the following tangible fixed assets would not normally be depreciated?

1. Machinery

2. Land

3. Equipment

4. Buildings

Q.

What is meant by a normal loss?

Q.

Which is better: straight line or reducing balance method?

Q.

What is in the balance sheet?

Q. The comparative statement expresses the change of the values in current in comparison to previous year in the form of .

1. ratios
2. percentage
3. fractions
4. standard deviation

Q. What do you mean by Common Size Statements?

Q.

Which statement shows the increase and decrease in various assets, liabilities and capital in two or more balance sheets of the same business enterprise on different dates?

1. Trend analysis

2. All of these

3. Ratio Analysis

4. Average Analysis

Q. Land is not a depreciable asset because __________.

1. there in no maintenance cost of land
2. life of the land is unlimited
3. land cannot depreciate
4. its value always increases

Q. For which of the following asset depreciation can be applied?
(I) Land
(II) Furniture
(III) Machinery

1. (II) only
2. (II) and (III)
3. (I) and (III)
4. All (I), (II) and (III)

Q. Balance in petty cash book represents.

1. Outstanding expenses
2. Cash balance
3. Prepaid expenses
4. Net profit

Q. A comparative statement presents side-by-side information about an entity's assets and liabilities as of multiple points in time.

1. income
2. balance sheet
3. cashflow
4. bank

Q.

A___ presents side-by-side information about an entity's assets, liabilities, and shareholders' equity as of multiple points in time

1. Comparative income statement

2. Comparative balance sheet

3. Cash flow statement

4. All of these

Q. Which of the following is odd one with reference to depreciation?

1. Land.
2. Furniture.
3. Machinery.
4. None of the above.

Q.

The older amounts appear further from the account titles or descriptions as the older amounts are less important.

1. True

2. False

3. Can't say

4. None of these

Q. For depreciating Plant & Machinery, the suitable method is:

1. WDV
2. Depletion
3. Straight Line
4. Annuity Method

Q.

The 4th column in comparative balance sheet is expressed in___

1. Absolute values

2. Percentage

3. Both Absolute values & Percentage

4. None of these

Q. Which of the following is odd with reference to depreciation ?

1. Land.
2. Machinery.
3. None if the above.
4. Furniture.

Q. The balance in the Petty Cash Book represents expenses.

1. True
2. False

Q. State with reasons whether following statements are True or False:
Land is also depreciable asset.

Q. It is not true for bank reconciliation statement __________.

1. the transaction in the cash book one recorded as per client new point.
2. that the bank balance as per cash book and pass book are same
3. prepared on a particular date
4. a single transaction is recorded both in bank pass book as well as bank cash book.

Q. Which of the following asset is NOT depreciated?

1. Factory Buildings
2. Office Equipment
3. Land
4. Plant & Machinery

Q. If a simple pendulum has a percentage error in length and time period 2% and 1% respectively . then what is the percentage error in ‘g’.

Q. _________ cost will still be incurred although a plant is shut down temporarily.

1. Cost of raw material
2. Advertising
3. Depreciation
4. Carriage

Q. Bank reconciliation sometimes points to the need for adjusting entries. Invariably how should it be done?

1. The reconciliation of the ending balance as per the bank statement to the adjusted cash balance.
2. The reconciliation of the cash balance as per the company records to the adjusted cash balance.
3. Both a and b
4. None of the above

Q. Explain the following :

Common size balance sheet.