Multiple Choice Questions on Main objective of Common Size statement is ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Main objective of Common Size statement is ........

General Accounting Principles Financial statement analysis 
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    Main objective of Common Size statement is :

    To present the changes in various items

    Incorrect Answer

    To provide for a common base for comparison

    Incorrect Answer

    To establish relationship between various items

    Incorrect Answer

    All of the Above

    Correct Answer
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    Explanation:

    Objectives of common-size income statement are

    • to analyse change in individual items of statement of profit and loss,
    • to study the trend in different items of revenues and expenses and
    • to assess the efficiency of the enterprise. 
    • Recognize substantial changes in the financial statements of the company.

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