Which of the following statements are correct?
1. Analysis and interpretation of financial statements, is a function of accounting.
2. Profit and Loss account is prepared for ascertaining financial postition of a firm.
3. Goodwill is a wasting asset.
4. Balance Sheet is prepared for ascertaining financial position of a firm
Select the correct answer
A. 1 and 2
B. 1 and 3
C. 1 and 4
D. 2 and 3
Answer: Option C
This Question Belongs to Commerce >> Accounting
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