Dk Goel Accountancy Class 12 Solutions Vol 2 Chapter 2 Financial Statements of Analysis: Ace your Class 12 Accountancy exams with the Dk Goel Accountancy Class 12 Solutions Vol 2 Chapter 2 Financial Statements of Analysis. All the solutions are designed by subject matter experts and that makes them credible, accurate and as per the current CBSE Syllabus.
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Dk Goel Accountancy Class 12 Solutions Vol 2 Chapter 2 Financial Statements of Analysis
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Question 1
What is the meaning of Financial Analysis?
Answer:
Financial statements give a mass of complex information in the absolute monetary terms and reveal a bit about the solvency, liquidity and profitability of the enterprise. The data that is provided is classified into groups and a comparison of various groups is made with one another.
Question 2
Mention 5 objectives of financial analysis.
Answer:
5 objectives of financial analysis are mentioned below:
- To measure the earning capacity or profitability
- To measure the solvency
- To identify the trend of the business
- To furnish useful data to the management
- To measure the financial strength
Question 3
Mention 5 importance of financial analysis.
Answer:
5 importance of financial analysis are mentioned below:
- Significance for creditors
- Significance for government
- Significance for employees
- Significance for investors
- Significance for researchers
Question 4
Mention any 2 uses of analysing the financial statements.
Answer:
2 uses of analysing the financial statements are mentioned below:
- Helpful in making investment decisions
- Helpful in making credit decisions
Question 5
Explain how financial statement analysis ignores qualitative elements.
Answer:
The qualitative elements like – the quality of labour force, public relations, quality of management etc., ignored while carrying out the analysis of financial statements.
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