QUESTION TWO Listed below.are five items that rnay or mav not require disclosure in the notes to the financial statements. (a) Mandera Construction Company uses the percentage of completion method to recognize revenue on its long term construction contracts. This is one of the acceptable methods for accounting for such projects. Over the life of the projects both methods produce the same results; but the annual results may differ substantially One of the most popular artists of spectacular comics is leaving the company and going to work for a competitor. (b) Shortly after the statement of financial position date, but before the financial statements are issued one of the coast foods two processing plants was damaged by a tormado. The plant will be out of service for at least three months. (c) The Management of soft systems has developed systems software that will make Windows 8. virtually obsolete If they are correct the company's profits will increase ten times or more. (d) College Property Managemeni (CPM) withhold Sh.50,000 security deposits from students who in violation of the lease kept a dog in their apartment. The students have sued CPM for this amount in the small claims court (e) Required:- explain what, if any, disclosure is required under the conceptual (25 Marks) For each case frame work. Explain your reasoning