a) choose a company you are familiar with. Describe the flows of the following transactions through the accounting cycle of the company that you have selected. (12 Marks)

(i) Sales

(ii) Cash Receipts

(iii) Purchases

(iv)Cash disbursements

(v) Payroll.

b) Discuss the following types of firms with respect to their system characteristics: (8 Marks)

(i) Bank

(ii) Electricity Transmission Company

(iii) Wholesale Grocer

(iv)Software Vendor