<<12345678910111213141516>> 1. What serves as the backbone for any credit proposal in a bank?Loan interest ratesBorrower's integrityFinancial Statements (FS)Loan tenureQuestion 1 of 16 2. What do financial statements provide an overview of?Borrower's integrityShort-term goalsFinancial condition of a business/entity/personProfit marginsQuestion 2 of 16 3. What does ratio analysis help in assessing?Borrower's integrityShort-term goalsImprovement or deterioration in past yearsProfit marginsQuestion 3 of 16 4. From whose perspective is the analysis of financial statements crucial?ShareholdersLenders/Financial InstitutionGovernment DepartmentsCustomersQuestion 4 of 16 5. What are Accounting Standards (AS) and what aspects do they cover?Guidelines for tax preparationPolicy documents for financial statement preparationStandards for internal auditingGuidelines for marketing strategiesQuestion 5 of 16 6. Who formulates Accounting Standards in India?International Accounting Standards Board (IASB)Institute of Chartered Accountants of India (ICAI)Securities and Exchange Board of India (SEBI)Reserve Bank of India (RBI)Question 6 of 16 7. What is the objective of Accounting Standards?To increase accounting alternativesTo reduce comparability of financial statementsTo provide meaningful information to usersTo complicate financial reportingQuestion 7 of 16 8. What are International Financial Reporting Standards (IFRS) developed by?Institute of Chartered Accountants of India (ICAI)International Accounting Standards Board (IASB)Reserve Bank of India (RBI)Securities and Exchange Board of India (SEBI)Question 8 of 16 9. What is the purpose of International Financial Reporting Standards (IFRS)?To standardize tax regulations globallyTo set guidelines for internal auditsTo become global standards for financial statement preparationTo regulate marketing strategies globallyQuestion 9 of 16 10. What prompted the adoption of Indian Accounting Standards (Ind AS) in India?Emergence of the Global economyGrowing competitionBoth A and BNone of the aboveQuestion 10 of 16 11. Which companies are required to adopt Ind AS, according to the guidelines?Only listed companiesOnly unlisted companies with a net worth of Rs. 250 crores or moreAll listed companies and unlisted companies with a net worth of Rs. 250 crores or moreOnly insurance companies, banking companies, and NBCsQuestion 11 of 16 12. What is a Balance Sheet?Statement of income and expensesStatement of assets and liabilitiesStatement of cash flowsStatement of changes in equityQuestion 12 of 16 13. According to the Companies Act 2013, how are assets classified as current?Expected to be settled within 24 monthsExpected to be settled within 12 months after the reporting dateHeld primarily for the purpose of being tradedAll of the aboveQuestion 13 of 16 14. What does the term "trade receivable" refer to?Amount due on account of goods purchasedAmount due on account of goods sold or services rendered in the normal course of businessAmount due on account of loansAmount due on account of taxesQuestion 14 of 16 15. How are projected financial statements prepared?Based on anticipated performance in the pastBased on actual statements for the future periodBased on actual statements for the past period and anticipated performance in the futureBased on actual statements for the past period onlyQuestion 15 of 16 16. Question 16 of 16 Loading...
