CAT Questions

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New India Youth Conclave held in Surat, Gujarat.

A geology is a branch of science that deals with the study of Earth, its structure and materials made it. And the person who studies this is called as Geologist.

Laterite soils are a tropical soil and possess a great amount of iron and aluminum. Due to its high iron oxide content they look like rusty-red coloration.

The World Music Day is celebrated across the world on 21 June.

The day is also known as 'Fete de la Musique' after a music festival that began in France in 1982.

This Day was first celebrated on 21st June 1982.

Financial Reporting involves the disclosure of financial information to the various stakeholders about the financial performance and financial position of the organization over a specified period of time. These stakeholders include – investors, creditors, public, debt providers, governments & government agencies.

Financial Reporting is very important and critical task of an organization. It is vital part of Corporate Governance.

The objectives & purposes of financial reporting :–

* Providing information to management of an organization which is used for the purpose of planning, analysis, benchmarking and decision making.

* Providing information to investors, promoters, debt provider and creditors which is used to enable them to male rational and prudent decisions regarding investment, credit etc.

* Providing information to shareholders & public at large in case of listed companies about various aspects of an organization.

* Providing information about the economic resources of an organization, claims to those resources (liabilities & owner’s equity) and how these resources and claims have undergone change over a period of time.

* Providing information as to how an organization is procuring & using various resources.

* Providing information to various stakeholders regarding performance management of an organization as to how diligently & ethically they are discharging their fiduciary duties & responsibilities.

* Providing information to the statutory auditors which in turn facilitates audit.

* Enhancing social welfare by looking into the interest of employees, trade union & Government.

Supply curves tend to be more elastic in the long run, because there is time for firms to enter or leave the industry.