Give your opinion from the financial accounting perspective. ( You may refer to an appropriate accounting principle.) .Assume a financial year from 1^st January -31^st Dec 2022.

Delta Ltd. Closes its books of accounts as indicated above,in the course of your audit you discover the following:

a.Rent of sh.225,000 paid covers the period to 31^st march 2023 as shown in the income statement presented by the company accountant.

b.Commission receivable of sh.90,000 out of sh.120,000 was only covering up to the end of September 2022,The company accountant is waiting for the whole amount to be received so as to recognize it.

c.Advertisement for the year is sh.84000,The accountant has recognized in the income statement only 70,000 that was paid as per the receipts presented.