Question 1 (a) Discuss any four (4) categories of people to whom financial statements are useful. (8 marks) (b) Explain two (2) differences between Capital Expenditure and Revenue Expenditure. (4 marks) (c) Classify the following items as Capital Expenditure or Revenue Expenditure. Briefly state your reasons for each case. (i) Purchase of kitchen equipment for use in the business (ii) Transportation cost paid to bring the kitchen equipment in (i) to the business premises (iii) Repairs to a delivery van (iv) Consultancy fee paid for installation of the kitchen equipment in (i) above (v) Painting extension to the restaurant when it is first built (vi) Repainting of the extension to the restaurant three years after it was built (vii) Payment of salaries to restaurant staff (viii) Maintenance charges incurred for the restaurant (1 mark each; 8 marks)