General Knowledge · Accountancy
Consider the following statements regarding tools of Financial Statement Analysis: 1. Comparative financial statements present financial data of two or more accounting periods in adjacent columns to facilitate comparison. 2. Common size statements present each item of the financial statement as a percentage of a common base figure. Which of the above statements is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither 1 nor 2 is correct
- 2Both 1 and 2 are correct✓
- 3Only 2 is correct
- 4Only 1 is correct
Correct answer
Both 1 and 2 are correct
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