CUET Accountancy - Which one of the following are correct in connection with the Common Size Statement? | PYQs + Solutions

CUET Accountancy

Financial Statements

Easy

(A), (B) and (D) only

(A), (B) and (C) only

(A), (C) and (D) only

(B), (C) and (D) only

✅ Correct Option: 3

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The value of long term borrowings as on 31 March 2023

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Match List-I with List-II

List-I	List-II
(A) Comparative Statements	(I) 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.
(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) It describes the significant relationship which exists between various items of a balance sheet and a statement of profit and loss of a firm.
(D) Ratio Analysis	(IV) These are the statements showing the profitability and financial position of a firm for different periods of time in a comparative form to give an idea about the position of two or more periods.

Choose the correct answer from the options given below:

27 May Shift 1

Which of the following is not true about Comparative Statements-

CUET Accountancy PYQs