MCQs on ASSETS, LIABLITIES INCOME AND EXPENDITURE Part No. 1
300 ViewsQ.1:- Financial statements are prepared mainly for:
- External users of financial information
- Managers of the business
- Internal users of financial information
- Creditors of the business
Check Answer
Correct Option: A
Q.2:- The analysis and interpretations of the financial statement will reveal …
- the profitability
- the financial position
- Both
- None
Check Answer
Correct Option: C
Q.3:- Prepaid expense items, such as prepaid rent, are usually considered:
- current assets.
- long-term liabilities.
- capital assets.
- current liabilities.
Check Answer
Correct Option: A
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