The preparation of comparative financial statement is only possible in case of presence of past year data.

True

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False

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Partially true

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None of these

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Solution

The correct option is A
True

True.The preparation of comparative financial statement is only possible in case of presence of past year data.

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The financial data will be comparative only when same accounting principles are used in preparing these statements.

Comparative financial statements present financial data for several years side by side. Data may be presented in the form of ___

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