10
Which of the following is not a
limitation of analysis of financial
statement *
O Affected by personal bias
O To know the financial strength
O Lack of qualitative analysis
O Based on accounting concepts
Answers
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0
Answer:
answer b
Explanation:
Financial statements of a company as useful as they are have a few limitations as well. They are prepared on historical cost as all the assets of the company are recorded at the cost.
They ignore price level changes because of the historical cost concept. They are not free from personal bias, as the statements are prepared by humans personal bias being a human tendency might affect the financial statements.
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