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