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Question 1 a) Briefly explain the term 'Bank Reconciliation' and its importance. [5] b) Including formulas, differentiate between the Acid test ratio and Current ratio.

Question 1 a) Briefly explain the term 'Bank Reconciliation' and its importance. [5] b) Including formulas, differentiate between the Acid test ratio and Current ratio. [6] c) Explain the term Liquidation and give practical examples. [4]

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