Question:
Write any two limitations of financial statements.
Write any two limitations of financial statements.
Show Hint
Financial statements show quantitative data, not qualitative factors.
Updated On: Feb 16, 2026
Hide Solution
Verified By Collegedunia
Solution and Explanation
Financial statements are based on historical cost and do not reflect current market values.
They do not disclose qualitative aspects such as efficiency of management and employee morale.
Was this answer helpful?
0
0
Top Questions on Financial Statements
- Write any two limitations of financial statements.
- MPBSE Class XII Board - 2026
- Accountancy
- Financial Statements
- Write any two characteristics of financial statements.
- MPBSE Class XII Board - 2026
- Accountancy
- Financial Statements
- For whom, analysis of financial statements is not significant?
- PSEB XII - 2025
- Accountancy
- Financial Statements
- For whom, analysis of financial statements is not significant?
- PSEB XII - 2025
- Accountancy
- Financial Statements
- Do you agree or disagree with the following statement:
Financial statement includes only balance sheet.- Maharashtra Class XII - 2025
- Book-Keeping & Accountancy
- Financial Statements
View More Questions
Questions Asked in PSEB exam
- Explain the importance of E-waste management and proper disposal of electronic gadgets.
- PSEB XII - 2026
- Green Computing
- Explain the CIA Triad (Confidentiality, Integrity, and Availability) in cyber safety.
- PSEB XII - 2026
- Cyber Security
- Explain the concepts of Primary Key, Foreign Key, and Candidate Key.
- PSEB XII - 2026
- Database Management Systems
- Write the syntax and use of SQL DDL commands (CREATE, ALTER, DROP) and DML commands (INSERT, UPDATE, DELETE).
- PSEB XII - 2026
- Database Management Systems
- What are the main provisions of the Indian IT Act 2000?
- PSEB XII - 2026
- Cyber Security
View More Questions