Expressed as a percentage of each asset to total  
a) Common size P/L A/C
b) Common size Balance Sheet
c) Comparative Income Statement
d) Trend analysis

1 Answer

Answer :

b) Common size Balance Sheet

Related questions

Description : Study of the trend of the same items of two or more balance sheets a) Common size Profit and Loss A/C b) Common size balance sheet c) Comparative Income statement d) Comparative Balance Sheet

Last Answer : Common size balance sheet

Description : Under ------------------------ each item of expenses taken as a percentage on net sales a) Comparative income statement b) Comparative balance sheet c) Common size Balance sheet d) Common size Income Statement

Last Answer : d) Common size Income Statement

Description : ---------------- establishes the relationship of different individual items which same common items a) Common size statements b) Comparative statements c) Trend analysis d) Comparative Income Statement

Last Answer : a) Common size statements

Description : Ratios of different items for various periods are calculated and compared a) Common size b) Comparative c) Trend analysis d) Ratio analysis

Last Answer : d) Ratio analysis

Description : Comparison of financial variables of a firm over a period of time is known as-------------- a) Comparative b) Common-size c) Trend analysis d) None of the above

Last Answer : c) Trend analysis

Description : Cash flow is a part of a) Fund flow b) Balance sheet c) Income statement d) Comparative statement

Last Answer : c) Income statement

Description : In common size Balance Sheet analysis we evaluate– (A) Increase or decrease over two years is analysed (B) Only increase over two years is analysed (C) Only decrease over two years is analysed (D) All assets and liabilities are expressed in terms of percentage of total

Last Answer : Answer: All assets and liabilities are expressed in terms of percentage of total

Description : The relationship between two amount or variables is measured with the help of ------------ a) Ratio b) Trend c) Comparative d) Common size

Last Answer : a) Ratio

Description : On a classified balance sheet, merchandise inventory is classified as a. an intangible asset. b. property, plant, and equipment. c. a current asset. d. a long-term investment.

Last Answer : c. a current asset.

Description : An intangible asset a. does not have physical substance, yet often is very valuable. b. is worthless because it has no physical substance. c. is converted into a tangible asset during the operating cycle. d. cannot be classified on the balance sheet because it lacks physical substance.

Last Answer : a. does not have physical substance, yet often is very valuable.

Description : Office Equipment is classified in the balance sheet as a. a current asset. b. property, plant, and equipment. c. an intangible asset. d. a long-term investment.

Last Answer : b. property, plant, and equipment.

Description : Kirti Co’s Balance Sheet shows Fixed Asset Rs. 3,60,000. At the time of absorption calculation of Net Assets is 10% less than the market value, then market value of such fixed assets is ............ (A) Rs. 3,24,000 (B) Rs. 4,00,000 (C) Rs. 4,20,000 (D) None of these

Last Answer : (B) Rs. 4,00,000

Description : An example of Balance Sheet ratio is --------------- a) Net profit ratio b) Inventory turn over ratio c) Current ratio d) Fixed asset turn over ratio

Last Answer : c) Current ratio

Description : Afford full diagnosis of the profitability and financial position a) Preparation of Profit and Loss Account b) Balance Sheet c) Final Accounts d) Analysis of financial statement

Last Answer : d) Analysis of financial statement

Description : The post-closing trial balance contains only a. income statement accounts. b. balance sheet accounts. c. balance sheet and income statement accounts. d. income statement, balance sheet, and retained earnings statement account

Last Answer : b. balance sheet accounts.

Description : A correcting entry a. must involve one balance sheet account and one income statement account. b. is another name for a closing entry. c. may involve any combination of accounts. d. is a required step in the accounting cycle.

Last Answer : c. may involve any combination of accounts.

Description : Correcting entries a. always affect at least one balance sheet account and one income statement account. b. affect income statement accounts only. c. affect balance sheet accounts only. d. may involve any combination of accounts in need of correction.

Last Answer : d. may involve any combination of accounts in need of correction.

Description : The heading for a post-closing trial balance has a date line that is similar to the one found on a. a balance sheet. b. an income statement. c. an stockholders' equity statement. d. the worksheet.

Last Answer : a balance sheet.

Description : A double rule applied to accounts in the ledger during the closing process implies that a. the account is an income statement account. b. the account is a balance sheet account. c. the account balance is not zero. d. a mistake has been made, since double ruling is prescribed.

Last Answer : a. the account is an income statement account.

Description : The balances that appear on the post-closing trial balance will match the a. income statement account balances after adjustments. b. balance sheet account balances after closing entries. ... statement account balances after closing entries. d. balance sheet account balances after adjustments.

Last Answer : b. balance sheet account balances after closing entries.

Description : The purpose of the post-closing trial balance is to a. prove that no mistakes were made. b. prove the equality of the balance sheet account balances that are carried forward into the ... next accounting period. d. list all the balance sheet accounts in alphabetical order for easy reference.

Last Answer : b. prove the equality of the balance sheet account balances that are carried forward into the next accounting period.

Description : The income summary account a. is a permanent account. b. appears on the balance sheet. c. appears on the income statement. d. is a temporary account.

Last Answer : d. is a temporary account.

Description : AS-3 is related to a) Cash flow statement b) Funds flow statement c) Balance sheet d) Income statements

Last Answer : a) Cash flow statement

Description : -------- helps to disclose financial position a) Trial Balance b) Profit and Loss Account c) Balance sheet d) Income Statement

Last Answer : -------- helps to disclose financial position a) Trial Balance b) Profit and Loss Account c) Balance sheet d) Income Statement

Description : The statement prepared to disclose accounting information are known as----- a) Comparative statements b) Common size statements c) Financial statements d) None of the above

Last Answer : c) Financial statements

Description : Premium received on issue of shares is shown on-----------. A. asset side of the balance sheet B. liability side of the balance sheet C. credit side of the P&L a/c. D. debit side of the P & L a/c

Last Answer : B. liability side of the balance sheet

Description : Powerful tool for analyzing financial statement is ---------- a) Trend analysis b) Ratio analysis c) Analysis d) Interpretation

Last Answer : b) Ratio analysis

Description : Working capital is expressed as------ a) Current asset-fixed asset b) Fixed assets-current liabilities c) Current assets-current liabilities d) None of these

Last Answer : c) Current assets-current liabilities

Description : Government grants related to income as per the Accounting Standard (AS)-12 should be- (A) Presented as a credit in the statement of Profit and Loss (B) Presented as a deferred income on the asset ... of balance sheet (D) Presented both in the Profit and Loss statement and in the balance sheet

Last Answer : Answer: Presented both in the Profit and Loss statement and in the balance sheet

Description : Income statement ratios are also called ----------- a) Operating ratio b) Liquidity ratio c) Activity ratio d) Trend ratio

Last Answer : a) Operating ratio

Description : Comparative statements are a form of --------------------------- a) Horizontal analysis b) Vertical analysis c) Parellel analysis d) None of the above

Last Answer : a) Horizontal analysis

Description : A current asset is a. the last asset purchased by a business. b. an asset which is currently being used to produce a product or service. c. usually found as a separate classification in the income statement. d. an asset that a company expects to convert to cash or use up within one year.

Last Answer : d. an asset that a company expects to convert to cash or use up within one year.

Description : A statement prepared in the form of report a) Fund flow b) Cash flow c) Ratio d) Balance sheet

Last Answer : a) Fund flow

Description : Return on investment is a---------------- a) Profit and loss account ratio b) Balance sheet ratio c) Combined ratio d) Position statement ratio

Last Answer : c) Combined ratio

Description : Comparison and interpretation of ratio is known as --------------------- a) Fund flow analysis b) Cash flow analysis c) Ratio analysis d) Trend analysis

Last Answer : c) Ratio analysis

Description : Trend analysis is significant for a) Forecasting and budgeting b) Profit planning c) Capital rationing d) None of the above

Last Answer : a) Forecasting and budgeting

Description : ommon size Income Statement present the various items as a percentage of ---------------- a) Sales b) Credit sales c) Cash sales

Last Answer : a) Sales

Description : In trend percentage the base year is ---------------------------- a) The first year b) Last year c) Any year d) Second year

Last Answer : a) The first year

Description : NBFCs whose asset size is of _____ or more as per last audited balance sheet are considered as systemically important NBFCs. A. Rs.100 Crore B. Rs.200 Crore C. Rs.500 Crore D. All of the Above E. None of the Above

Last Answer : C. Rs.500 Crore Explanation: NBFCs whose asset size is of Rs.500 Crore or more as per last audited balance sheet are considered as systemically important NBFCs.

Description : An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills accepted for Rs.800000/-What would be the effect on the total asset and total liabilities in the ... and liabilities increased by Rs.800000 D] Assets increased by Rs.800000 and liabilities increased by Rs.800000

Last Answer : D] Assets increased by Rs.800000 and liabilities increased by Rs.800000

Description : In the balance sheet, ending merchandise inventory is reported a. in current assets immediately following accounts receivable. b. in current assets immediately following prepaid expenses. c. in current assets immediately following cash. d. under property, plant, and equipment.

Last Answer : a. in current assets immediately following accounts receivable.

Description : Current liabilities a. are obligations that the company is to pay within the forthcoming year. b. are listed in the balance sheet in order of their expected maturity. c. are listed in the balance sheet, ... . d. should not include long-term debt that is expected to be paid within the next year.

Last Answer : a. are obligations that the company is to pay within the forthcoming year. b. are listed in the balance sheet in order of their expected maturity.

Description : Balance sheet accounts are considered to be a. temporary stockholders’ accounts. b. permanent accounts. c. capital accounts. d. nominal accounts.

Last Answer : b. permanent accounts.

Description : Land held for future use will be reported in the ____________ section of a classified balance sheet. a. Long-term assets. b. Long-term investments. c. Property, Plant and Equipment. d. Current assets..

Last Answer : b. Long-term investments.

Description : The current assets should be listed on Cerner's balance sheet in the following order: a. cash, accounts receivable, prepaid insurance, equipment. b. cash, prepaid insurance, supplies, ... receivable, prepaid insurance, supplies. d. equipment, supplies, prepaid insurance, accounts receivable, cash

Last Answer : c. cash, accounts receivable, prepaid insurance, supplies.

Description : The sub-classifications on the company’s classified balance sheet would include all of the following except: a. Current Assets. b. Property, Plant, and Equipment. c. Current liabilities. d. Long-term Assets.

Last Answer : d. Long-term Assets.

Description : Intangible assets are a. listed under current assets on the balance sheet. b. not listed on the balance sheet because they do not have physical substance. c. noncurrent resources. d. listed as a long-term investment on the balance sheet.

Last Answer : Intangible assets are a. listed under current assets on the balance sheet. b. not listed on the balance sheet because they do not have physical substance. c. noncurrent resources. d. listed as a long-term investment on the balance sheet.

Description : On a classified balance sheet, current assets are customarily listed a. in alphabetical order. b. with the largest dollar amounts first. c. in the order of liquidity. d. in the order of acquisition.

Last Answer : c. in the order of liquidity.