(Objectives of this case study) To understand the application of accounting principles in recording of financial transactions To analyze the treatment of adjustment entries in the preparation of final accounts Case 1. The image given below shows one of the basic principles of accounting. Identify the concept related and answer the following questions in your own words. Debit Credit Answer the following Questions (I mark each) a. Identify the accounting concept represented by this image b. How would you define this accounting principle in your own words? c. Discuss any three examples where this accounting concept can be applied d. How this concept of accounting related to assets, liabilities and equity? e. Write the alternative name of this accounting principles