Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Financial Statements of a Company

Question:
'Financial statements show aggregate information but not detailed information. What does this statement show?
Options:
Importance of financial statements
Nature of financial statements
Limitation of financial statements
None of these
Correct Answer:
Limitation of financial statements
Explanation:
Financial statements show aggregate information but not detailed information. Hence, they may not help the users in decision-making much.