1.

Mention THREE Objectives of Preparing Financial Statements.

Answer»

Objectives of preparing Financial Statements are : 

  • To present a True and Fair View of the Financial Performance (i.e. Profit / Loss of the Business) . 
  • To present a True and Fair View of the Financial Position (i.e. Assets / Equity and Liabilities of the Business) . 
  • To Assess the ability of the Business Enterprise to meet its Short Term and Long Term Commitments.


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