4 [Four] (a) Discuss the ways in which a company may grow through combining with others. [5 marks] (b) Explain each of the following efficiencies that a company may achieve through combination. i. Productive efficiency. ii. Technical efficiency [3 marks] [3 marks] iii. Allocative efficiency [3 marks] iv. Social efficiency [3 marks] (c) Discuss the motives for corporate combination. [8 marks] Question 2 [Two] (a) Financial accounting involves the identification, measurement and reporting of those economic events that may be necessary for decision making. i. Briefly describe the accounting process used to achieve this objective, clearly explaining each stage in the process. [5 marks] ii. Discuss the limitations of financial accounting, information as the basis for decision-making. [5 marks] iii. Explain other types of information that may aid the manager in making decisions. [5 marks] (b) The International Accounting Standards Board (IASB) has worked hard in recent years to achieve uniform global accounting standards. i. Why is it necessary to have uniform accounting standards? [5 marks] ii. What are the challenges to achieving global accounting standards? [5 marks] Question Five a) Explain ratios five limitations (5 marks) of accounting (5 b) Name five types of journals. marks) c) Describe five comprehensive statements of accounts. (5 marks) d) Classify the following as revenue or capital items: i. purchase of a motor vehicle ii. payment of motor expenses iii. Installation of a new plant iv. repainting of an office building v. extension of an office building