D:-(iii) and (iv)
Correct Answer:- Option-C

Question20:-Oral communication ensures and
A:-Speedy interaction; immediate response
B:-Adequate attention; immediate response
C:-Fluency; speed
D:-Speed attention
Correct Answer:- Option-B

Question21:-Which of the following statements is/are correct about the elements of
financial statements?

(1) Asset, liability and equity are used to measure the financial position of the
firm.

(11) Income and expenses are used to measure the profit of the firm.

A:-Only (i)

B:-Only (ii)

C:-Both (i) and (ii)
D:-None

Correct Answer:- Option-C

Question22:-Assets and liabilities are shown as a percentage of total assets and
total liabilities in a

A:-Balance sheet

B:-Common size balance sheet
C:-Comparative financial statement
D:-Trend analysis

Correct Answer:- Option-B

Question23:-Which of the following statements is/are not correct about the benefit
gained from the analysis of financial statements

(1) Assess the operational efficiency of the firm

(ii) Find out the reasons for change in the financial position of the firm

(iii) Provide information regarding the policy outcomes of the firm

A:-Only (i)

B:-Both (i) and (iii)
C:-Both (ii) and (iii)
D:-Only (iii)

Correct Answer:- Option-D

Question24:-Which of the following statement is/are correct about the adjustment
for 'unrecorded purchase of good’.

(i) Added to "Sundry creditors" on the liability side of balance sheet

(11) Added to "purchases" in the debit side of profit and loss account

A:-Both (i) and (ii)