Letters of Inquiry regarding Financial Status and Collection Letters — SPCC STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceSPCCLetters of Inquiry regarding Financial Status and Collection Letters2 Marks
Question
Explain the process of obtaining financial status.
✓
Answer
The process of obtaining information about the economic status of any firm can be done by the following method.
A. can be asked to refer to another business firm.
B. A reference may also be sought to the banker of that firm.
C. Its economic viability can be directly calculated on the basis of the balance sheet of the last few years of the business firm.
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