Which of the following statement/s are used for financial analysis?

Statement of Profit and Loss only

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Statement of Financial Position i.e. Balance Sheet only

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Both :
Statement of Profit and Loss
Statement of Financial Position i.e. Balance Sheet

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None of these

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Solution

The correct option is C
Both :
Statement of Profit and Loss
Statement of Financial Position i.e. Balance Sheet

Both the Statement of Profit and Loss and Statement of Financial Position i.e. Balance Sheet are used for financial analysis.

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