1. Financial statements include only balance sheet. (False)
2. Analysis of financial statement is a tool but not a remedy. (True)
3. Purchase of fixed assets is operating cash flow. (False)
4. Gross Profit depends upon net sales. (True)
5. Ratio is calculated on ownership capital only. (False)
6. Net Profit shows quick ratio. (False)
7. Government is not interested in analysis of financial statement.
(False)
8. Ratio Analysis is useful for inter – firm comparison. (True)
True False