Explain the different ways in which you have used financial data in your real life or professional life to make a decision – possibly with the help of an example. (5 Marks)
As an individual, do you think that the accounting standards/ principles are necessary? Provide justification on the same.(5 Marks)
Balance Sheet of ABC Ltd. as on 31st March 2020.( 10 Marks)
What makes a good balance sheet ? Explain any 5 balance sheet items and analyse the financial position of the firm.

Liabilities

Amount

Assets

Amount

Share Capital

16.00

Fixed Assets (Net)

60.00

Investments

16.60

Reserves & Surplus

22.00

Cash & Bank

00.20

Secured Loans

21.00

Debtors

11.80

Unsecured Loans

25.00

Inventories

10.60

Current Liabilities

16.00

Prepaid Expenses

00.80

Total

100.00

Total

100.00