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Question Completion Status: QUESTION 13 Which financial statement classification is appropriate for death of the president of
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Answer #1

Question 13

Option no A (Footnotes ) is correct answer.

As foot note in Financial statement is appropriate for death of president in the company. Apart from these all other relevant information are provoded through footnotes.all other given option are not correct.

Question 14

Option no C (Determining the increase in cash due to operation ) is correct .as this information is given by Cash Flow Statement.A cash flow statement is prepared for this purpose.all others option can be shown in Balaancesheet such as it compute rate of return , capital structure and also helps in assessing liquidity.

Question 15

Option C (inventory ) is correct.

As per defination of current Assets those assets are classified as current assets which are for short period of time mostly 1year.

In all option only Inventory is current assets as it is for short period.

Machine is fixed assets under tangiable goods.

Goodwill & Patents are also fixed assets under category of intangiable assets.

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