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      Question

      Which of the following are needed for the analysis of

      the financial statements of a company?
      A Balance Sheet Correct Answer Incorrect Answer
      B Profit and loss statements Correct Answer Incorrect Answer
      C Ratio analysis of Balance sheet and profit and loss statements Correct Answer Incorrect Answer
      D All of the given options Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Financial statements are reports prepared by a company’s management to present the financial performance and position at a point in time. A general-purpose set of financial statements usually includes a balance sheet, income statements, statement of owner’s equity, and statement of cash flows. These statements are prepared to give users outside of the company, like investors and creditors, more information about the company’s financial positions. Publicly traded companies are also required to present these statements along with others to regulatory agencies in a timely manner.

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