Q.1. Identify the different forms of companies which may be formed in the Sultanate of Oman. Explain the role of the Ministry of Commerce in the business sector. Q.2. Identify possible adverse effects on a lessee entity's financial statements arising from the classification of a lease arrangement as finance lease. Q3. Explain the key steps in the acquisition method in accounting for business combination. Why Fair value is the rule? Q4. Explain the terms lease, MLP, Present Value and Annuity Value Sale & leaseback transactions. Q5. What are the key elements of control? Discuss the importance of identifying the acquisition date and how is an acquirer identified? Q6. How do you identify an asset with reference to AASB? How should an asset be recognized in the financial statement? How should assets be measured