1. Which of the following transactions is NOT recorded in the accounts of a business? a) Receipt of interest by business owner on bank fixed deposit held jointly with spouse. b) Sale of an asset on credit. c) Withdrawal of goods by the business owner for personal consumption. d) Purchase of a new asset in exchange of an old asset. 2. Which of the following is NOT a current asset? a) Accounts receivable b) Inventories c) Prepaid expenses d) Income received in advance 3. Who among the following is NOT an internal user of financial statements? * a) Board of directors b) Investors c) Managers d) Employees 4. Listed below are some possible causes of difference between the cash book balance and the bank statement balance when preparing a bank reconciliation statement. Which of these items require an entry in the cash book? (0 Cheque paid in but subsequently dishonoured (ii) Error by bank (iii) Bank charges (iv) Lodgement credited after date (a)(ii) and (iii) only (b) (i) and (iii) only (ii) and (iv) only (d) (i) and (iv) only