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Question 2: List and explain different forms a business may take. Mention at least two advantages and two disadvantages of each form. (4.5marks) Question 3:

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Question 2: List and explain different forms a business may take. Mention at least two advantages and two disadvantages of each form. (4.5marks) Question 3: In preparing his Trial Balance, Revan found out that the credit side is smaller by $20,000 but later the following error were found: 1. Sales to Barzani for $40,000 was posted into the Purchases ledger. 2. Sales to Ayar for $30,000 was credited to his account. 3. Purchases from Mardin $40,000 was debited to Mardin's account. 4. Purchases from Mohammed for $15,000 were posted to Mohammad account. Use Journal to correct following errors found in the Revan's Ledger on extracting a trial balance and prepare the suspense account (6 marks)

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