a) What do you mean by accounting cycle? Which one among the steps of the accounting cycle helps to communicate information of a company to its external users? [02]

b) Mr. Zahid has a business of developing computer software. He has purchased an electric fan by Tk. 4000 two years ago. Do you think the value of the fan is the same at present? Explain your answer. Mention the accounting term that is used in this situation. [02]