1500 words First question: (50 marks) 1. Discuss the accounting principles that govern the accounting treatments of inventory adjustments? (10 marks). 2. Preparing a single financial process that explains how to process inventory adjustments to include the following operations: (prepaid expenses, revenues received in advance, accrued expenses, accrued revenues). (40 marks) Second question (20 marks) Debtors are considered one of the elements of current assets that refer to the value of debts owed to the entity by others, and it is natural that some debtors fail to pay the value of the debts owed by them towards the entity, based on that clarify the ways in which the accounting treatment of those debts is carried out using examples that illustrate this. Third question (30 marks) There are four ways to determine the cost of commodity inventory, including the FIFO method and the LIFO method, an example of these two methods is required to explain: - The cost of inventory in both ways. - The cost of sales in both ways. - The total profit in both ways. - The impact on the financial statements by preparing a table explaining the differences between the two methods