Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Financial Statements of a Company

Question:

Which information is disclosed by the Financial statements of a company?

Options:

Quanitative information

Non-monetary information

Qualitative information

All the above

Correct Answer:

Quanitative information

Explanation:

The chronologically recorded facts about events expressed in monetary terms for a defined period of time are the basis for the preparation of periodical financial statements which reveal the financial position as on a date and the financial results obtained during a period.