Answer to Question #126956 in Accounting for Faisal

Question

a) What is CVP analysis? How does CVP analysis help managers in making many
important decisions?

a) “Opportunity cost is also called opportunity loss”. Why? Explain with example.
b) What are the major elements of period costs in a manufacturing company? Explain them
with examples.

a) “Multiple-step income statement and Classified balance sheet are widely used by medium
and large companies”. Do you think so? Justify your opinion.
b) Adjusting entries are required every time a company prepares financial statements. What
are the reasons behind it?

a) What uses of financial statement analysis are made by short-term creditors, long-term
creditors and stockholders? [02]
b) Mention the various tools used to evaluate the significance of financial statement data
and describe them. [02]

Answer 1

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