Define accounting equation and give numerical examples for transactions  

covering all its components namely assets, liabilities, expenses, revenues, stock

capital and dividends and represent those transactions on the accounting  



 Accounting has its unique theory, as it is a type of social sciences; discuss this  

statement explaining main principles and assumptions of accounting. 


. Define accrual basis and cash basis of accounting then give numerical examples

for each method and explain which of them recommended by IFRS. 


. Ibrahim has a sole proprietorship working in goods merchandising and he  

needs to choose an inventory costing method. Being an accountant, list  

methods Ibrahim can use and explain to him advantages and disadvantages of  

each method supported by numerical examples.