Question #3 01+01+01+02+02+02+01 Marks Considering yourself an Owner of a Merchandizing Business, Answer the following Questions Mention The Name Of The Business Things which you buy and sell, and what is the term used for those things Who are the stakeholders of your business Explain the operating cycle of your business Which inventory system is used in your business:(Perpetual or Periodic) and Why How your Income Statement is Different from the Income Statement of a Services based Business. When your Inventory is Considered as an expense, and what is the name for this Expense. Question #4 What is the purpose of Adjusting Entries? Discuss the adjusting Entries for When Supplies are used When Depreciation is charged When unearned income is earned Marks 01+03 L