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(1) Provide two (2) reasons which could lead to the discrepancies between the balances shown in the bank statement and the cash book. Give examples.

(1) Provide two (2) reasons which could lead to the discrepancies between the balances shown in the bank statement and the cash book. Give examples. [10 marks]

(2) Elaborate the eight (8) steps in the accounting cycle. [10 marks]

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