Give one word/term/phrase for each of the following statements.i. The

1.	Give one word/term/phrase for each of the following statements.i. The statement showing the profitability of two different periods.ii. The ratio measures the relationship between gross profit and net sales.iii. Critical evaluation of financial statement to measure profitability.iv. A particular mathematical number showing the relationship between two accounting figures.v. An asset that can be converted into cash immediately.
Answer» i. Comparative Income Statement ii. Gross Profit Ratio iii. Analysis of Financial Statement iv. Ratio v. Liquid Asset

Give one word/term/phrase for each of the following statements.i. The statement showing the profitability of two different periods.ii. The ratio measures the relationship between gross profit and net sales.iii. Critical evaluation of financial statement to measure profitability.iv. A particular mathematical number showing the relationship between two accounting figures.v. An asset that can be converted into cash immediately.

Answer»

i. Comparative Income Statement

ii. Gross Profit Ratio

iii. Analysis of Financial Statement

iv. Ratio

v. Liquid Asset