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corea) 6:56pm 2 Instructions Question 1 The purposes of financial statement analysis include all of the flow Providing inform
Servitivity analysis Vertical ways Question 6 The measurement of key relations among financial statemente Financial reporting
Question 7 Managerial accounting is different from financial contingut Managerial accounting is more focused on the writ focu
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Answer #1

1. Option (e) is correct

Assuring that the company will not be the subject of an IRS audit is not the purpose of financial statement analysis. Financial statements never provide assurance that there is no need of audit. Rather an audit is conducted to check whether the financial statements provide true and fair view of the financial position of the company.

2. Option (d) is correct

The measurement of key relations among financial statement items is known as Ratio analysis. Ratios express quantitative relationships among the items.

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