(a) Explain the uses and limitations of ratio analysis when used to interpret the published financial accounts of a company.

(b) State and express two ratios that can be used to analyse each of the following:

(i) profitability;

(ii) liquidity;

(iii) management control.

(c) Explain briefly points which are important when using ratios to interpret accounts under each of the headings in

(b) above.