Assignment Question(s) (Allotted Marks: 15) Q1.Choose any 3 Terms in both Income statement and Balance sheet and explain with an example each. (4 Marks) Q2. Select any one business in Oman and write about the internal control issue procedures followed in that business related to Inventory management system in detail. (3 Marks) Q3. Describe any 4 books of original entry followed in business and write with your own example by using the specific format (4 Marks) Q4. Oman Oasis Company provided the following information for the year ended 31st December 2017. Inventory- RO 56,000 Long term debt - RO 74,500 Good will RO 25,000 Account receivables - RO 38,400 Account payable - RO 47,800 Machinery RO 67,000 Deferred income taxes RO 14,500 Fixtures and fittings - RO 26,000 Cash - RO 12,500 Shareholder's equity - RO 90,000 Short term debt RO 5,600 Other current assets RO 7,500 Analyze the above information and prepare the Balance sheet of Oman Oasis Company for the year ended 31st December 2017. (4 Marks)