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1.3 Ahmed is a generous benefactor of UK Youth Club, a charitable institution in the UK. At the end of the year, he received the financial statements of the institution. Do you think Ahmed is interested in the financial statement of UK Youth Club? Describe two (2) information that will be of interest to Ahmed as regards the financial statements of this charitable institution. (7 marks) Paragraph Styles Question 2 (This question provides evidence for CILO2) (25 points) Basel, a sole trader is planning to expand his customer base. He submitted a business proposal of providing repairs and maintenance jobs to the fleet of Arab Construction Company. The company is interested in the proposal of Basel, and to finalise their contract, they asked Basel to submit a set of his financial statements. Basel asked you to explain to him 2 reasons why Arab Construction Company, needs his financial statements. (@marks) On 24 December 2020, Basel received his electricity and water bill from EWA amounting to BD325. The deadline for the payment is 15 January 2021. When should Basel recognise his electricity and water expense? (1mark) b. Discuss two (2) accounting principles that Basel follows in recognizing his electricity and water expense. (6 marks)