‘Freedom to Choose of method of depreciation’ refers to which limitation of financial statement analysis.

a) Historical analysis.
b) Qualitative aspect ignored.
c) Not free from bias.
d) Ignore Price level Changes.

OR

. ............ is included in current assets while preparing balance sheet as per revised Schedule III but excluded from current assets while calculating Current Ratio

a) Debtors.
b) Cash and Cash Equivalent.
c) Loose tools and Stores and spares.
d) Prepaid Expense

Solution

c). Not Free from Bias

OR

c). Loose Tools and Stores and Spares