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Question

Mr. Ajay has approached ABC Ltd bank for a loan. The bank has asked Mr. Ajay to submit his financial statements for the last 3 years. Which of the following decisions the bank wont be able to take with the help of the financial statements?



A

Whether business of Mr. Ajay is generating profits or not

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B

Whether there are any assets which are in possession of Mr. Ajay or not

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C

Whether Mr. Ajay is married or unmarried

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D

Whether Mr. Ajay will be able to repay back the sums borrowed from bank

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Solution

The correct option is B

Whether Mr. Ajay is married or unmarried


Financial statements help the users to gather information about the business, therefore all the decisions except option C can be taken by the bank with the help of financial statements.


Accountancy

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