Q. No 1 (A) Mr. Shehzad want to start an online business of selling jewelry. However, he doesn't have enough capital. He has two choices, either to ask another partner to join or to get a credit from a bank. In case of partner, she doesn't want the other partner to interfere too much in her affairs. In any case, partner or bank requires financial information to be transmitted from him. The problem is that he doesn't know accounting too much. Can you help him to summarize what he should know that will help him to make a decision regarding his choice? What you want to explain to him regarding the process in generating financial information. (10) Q. No. 1 (B). Errors in the valuation of inventory at the end of the year are sometimes called "counterbalancing" or "self-correcting." Is the statement above is true or false? Explain with the help of an example