Question

Cfos examine the firm's accounting systems and comment on whether financial statements fairly represent the firm's financial position.

Answer 1

Explanation:

I don't know the answer of this question

Answer 2

It is true that the financial statements represent the firm's financial position.

Explanation:

• The financial statement indicates the strength and the financial activities of any firm that takes place daily.
• The statements focus on the liquidity and the cash flow between the firms.
• The profit-loss statement along with the pending dues are one which is represented by the statement.
• The liabilities and the total assets of the company are also determined by these financial statements.
• The financial capacity is determined by the capital investment which is reflected on the financial statement.

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2) What are financial assets in indian financial system?

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