Engineering Economics
Pick up the correct statement regarding financial statement analysis from the following.

The balance sheet is the summary of assets, liabilities and owner's equity of business at a point in time
Final analysis always involves the use of various financial statements i.e., balance sheet and income statement
The income statement is the summary of revenues and expenses of a firm over a particular period of time
All listed here

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Engineering Economics
In case of bankruptcy of a partnership,

The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities
The partners personal assets are attached to the debt of the partnership
The partners nay sell stock to generate additional capital
The partners are not liable for the liabilities of the partnership

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Engineering Economics
Each financial ratio is generally compared by

A ratio of some selected firms most progressive and successful at the point of consideration
A past ratio calculated from the past financial standard of the firm
All of these
A ratio developed by using the projected financial statement of the firm

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