(i) Balance Sheet is always prepared from the point of view of the business but not from that of the owners. (ii) The financial relationship of the business to its owners is shown in the Balance Sheet. (iii) Balance Sheet is always related to a period of time.
(i) Basic defensive and interval ratio (ii) Current ratio (iii) Super quick ratio (iv) Quick ratio Arrange these ratios in sequence to reflect the liquidity in descending order.