Q$1$:$-$ Which financial statement provides a snapshot of a company's financial position at a specific point in time, detailing its assets, liabilities, and shareholders' equity?

a$)$ Income Statement

b$)$ Cash Flow Statement

c$)$ Balance Sheet

d$)$ Statement of Retained Earnings

Q$2$:$-$Which financial analysis technique primarily focuses on comparing financial ratios, such as liquidity ratios, profitability ratios, and solvency ratios, to evaluate a company's performance and financial health?

a$)$ Trend Analysis

b$)$ Ratio Analysis

c$)$ Comparative Analysis

d$)$ Regression Analysis

Q$3$: Which process involves estimating future income and expenses based on historical data and expected changes in business conditions to aid in planning, resource allocation, and goal setting within an organization?

a$)$ Financial Analysis

b$)$ Cost Accounting

c$)$ Budgeting and Forecasting

d$)$ Tax Planning