1-Business organizations can be classified into different legal forms. List and briefly explain the different forms of business organizations. Identify under which category of business organization the PHILIPS bank falls, support your answer from the annual report of PHILIPS 2019. [Marks (Words): 10(300)] 2 frhe process of determining the monetary amount at which the elements of the financial statements are to be included in the balance sheet and income statement is called measurement. The IASB Framework includes the four bases of measurement. Explain these four bases of measurement with example. Identify that which measurement bases is used by PHILIPS in preparing their financial statements? [Marks (Words): 10(300)]