The following is a list of problems which an accountant may well meet in practice. Which accounting rule would the accountant most probably adopt in dealing with each of the problems? State the reasons for your choice. 

(a) The proprietor who has supplied the business capital out of his own private bank account. 

(b) The sales manager who is always very optimistic about the creditworthiness of prospective customers. 

(c) The managing director who does not want annual accounts prepared as the company operates a continuous 24-hour-a-day, 365-days-a-year process. 

(d) At the end of Period 1, it is difficult to be certain whether the company will have to pay legal fees of £1,000 or £3,000. 

(e) The proprietor who argues that the accountant has not got the other side of a transaction recorded in the accounts. 

(f) Some goods were purchased and entered into inventory at the end of Period 1, but they were not paid for until Period 2.