(a) Give reasons for including outstanding liabilities in the Balance Sheet

(b) How do you record an income generating activity of a bar in a not-for-profit-making organization:

(a) what are the sources of revenue to a federal government

(b) What are the advantages of cash basis in public sector accounting

(c) Mention five reasons for public sector accounting

(a) What is a Ledger

(b) List out the uses of an invoice to the seller and the buyer

(c)  Advantages of dividing the ledger into different classes

What are the Limitations of ratio analysis

Explain the following items and outline how they are treated in the final accounts:

(a) increase in provision for doubtful debts

(b) decrease in provision for doubtful debts

(c) provision for discount on debtors

(d) provision for discount on creditors

(e) provision for depreciation