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12th Standard English Medium Accountancy Subject Financial Statement Analysis Book Back 3 Mark Questions with Solution Part - I

12th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 15

    Part I

    5 x 3 = 15
  1. From the following particulars of Mani Ltd an Kani Ltd prepare a common-size income statement for the year ended 31st March, 2019

    Particulars Mani Ltd Kani Ltd
      Rs. Rs.
    Revenue from operations 2,00,000 2,50,000
    Other income 30,000 25,000
    Expenses 1,10,000 1,25,000
  2. Prepare common-size balance sheet of Maria Ltd. as on 31st March, 2018.

    Particulars 31st March 2018
      Rs.
    I EQUITY AND LIABILITIES  
    Shareholders’ funds 4,00,000
    Non-current liabilities 3,20,000
    Current liabilities 80,000
    Total 8,00,000
    II ASSETS  
    Non-current assets 6,00,000
    Current assets 2,00,000
    Total 8,00,000
  3. ‘Financial statements are prepared based on the past data’. Explain how this is a limitation.

  4. Briefly explain any three limitations of financial statements

  5. Explain the procedure for preparing common-size statement

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