1. Financial statements done by the --------- of accounting process.

A. First

B. Second

C. End

D. None of these

2. Financial statements disclose:

A. Monetary information

B. Qualitative information

C. Non-monetary information

D. All the above

3. Statement of Profit & Loss is also called.........:

A. Operating Profit

B. Balance Sheet

C. Income Statement

D. Trading Account

4. Preliminary expenses are shown in the Balance Sheet under the head:

A. Non-current assets

B. Current assets

C. Non-current liabilities

D. Deducted from securities premium reserve

5. the income statement include costs that :

A. differ from one company to another

B. same in all the companies

C. differ from one industry to another

D. none of the above

6. As per Accounting Standard-3, Cash Flow is classified into:

A. Operating activities and investing activities

B. Investing activities and financing activities

C. Operating activities and financing activities

D. Operating activities, financing activities and investing activities

7. Cash Flow Statement is also known as_:

A. Statement of Changes in Financial Position on Cash basis

B. Statement accounting for variation in cash

C. Both a and b

D. None of the above.

8. The objectives of Cash Flow Statement are

A. Analysis of cash position

B. Short-term cash planning

C. Evaluation of liquidity

D. Comparison of operating Performance

E. Both A and B

F. Both A and C

G. Both B and D

H. A, B, C, D

9. In cash flow statement, the interest from bank loan is shown in_:

A. Operating Activities

B. Financing Activities

C. Investing Activities

D. only A

E. Both A and B

F. Both A and C

G. A, B, C