Rearrange the following items in a sequence while preparing common size statement. (A) Calculate percentage of the total as per common base (B) Prepare the format of Balance sheet and Profit and Loss A/c (C) List out absolute figures in rupees at two points of time (D) Choose a common base Choose the correct answer from the options given below :

Question

Option 1: (B), (C), (D), (A)

Option 2: (A), (C), (B), (D)

Option 3: (B), (D), (C), (A)

Option 4: (B), (A), (D), (C)

AfterBoards · Accepted Answer

The answer is '(B), (C), (D), (A)'. View full solution:

List-I	List-II
(A) Comparative Statements	(I) It describes the significant relationship which exists between various items of a balance sheet and a statement of profit and loss of a firm.
(B) Common Size Statements	(II) It is a technique of studying the operational results and financial position over a series of years.
(C) Trend Analysis	(III) These are the statements which indicate the relationship of different items of a financial statement with a common item by expressing each item as a percentage of that common item.
(D) Ratio Analysis	(IV) These are the statements showing the profitability and financial position of a firm for different periods of time.

CUET Accountancy 2022 23 Aug Shift 2 PYQs

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