Identify several ways in which you currently use accounting information in your life as a student. Also identify several situations in which, while you are still a student, you might be required to supply financial information about yourself to others. answer should not exceed 20 lines) Q1: (Your Suppose that shortly after graduating from university you decide to open a restaurant in your city. You may find that it is not possible to arrange money required to start and run the business alone. You may then talk to your friends and all of you agree to run the restaurant by contributing a certain sum of money and other things required. So all of you join hands together to become the owners and share profits and losses. Draw up a partnership agreement when entering into partnership. Q2: Q3: What do we mean when we say that investors and creditors are interested in a company's financial statements? should not exceed 20 lines) (Your answer George and Hayla are partners in a business sharing profits and losses in the ratio of 2:1. On 1* January 2018, their capitals were; George S 12000; Hayla $ 10000. The partnership deed provided that interest at 5 per cent p.a. was to be credited to partner's capital from profits prior to division and Hayla was to be allowed a salary of $50 per month. On 31" December, 2018, profit after charging interest on capitals but before charging Hayla's salary amounted to$ 8320. During the year they had withdrawn S 500 cach for private expenses. Out of this, they agree that $ 750 shall be set aside to the provision for contingencies. Q4: Instructions: Give Profit and Loss Account of partners. Q5: Does the concept of consistency mean that all companies should use the same accounting methods? answer should not exceed 20 lines) Explain. (Your