CAT Questions

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About 71% of the earth's surface is covered with water. In that 71% only 4% of water is a fresh water.

The sun moves around and in the house, but cannot touch the house.

On the right corner of the mother board RAM is located in a computer.

Isotopes are variations of an element that have the same charge as the original element, but a different mass, which is caused by either more/less neutrons in the nucleus.

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.

A substance that dissociates into ions in solution and acquires the capacity to conduct electricity. Sodium, potassium, chloride, calcium, and phosphate are examples of electrolytes, informally known as lytes.