a) Should preference shares be disclosed as equity or as debt?

b) Income tax shall be paid on taxable income times tax rate. It makes sense to pay income tax for current year, but we should not be asked to account for deferred tax assets and liabilities. Do you agree with this statement? Discuss your arguments.

c) The financial reports must provide a true and fair view. Discuss this term true and fair view and give examples how a company can meet this requirement.

d) Briefly discuss under what circumstances a company may be wound up.

e) If an event occurs after the reporting period, then from the perspective of accounting standards, it is considered that the event has occurred between the end of the reporting period and the date when the financial statements are authorised for issue. What is the date when the financial statements are authorised for issue?