1. Salim and Rashid want to start a Furniture shop . How can you help them by explaining different forms of business and its benefits and limitations?
2. Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions:

• Started business with cash
• Goods purchase for cash
• Goods purchased on credit
• Any asset purchased and paid cash
• Any asset purchase on credit
• Sold goods for cash
• Sold goods on credit
• Paid any bill
• Paid salary to staff
• Cash withdraw from business for personal use Based on your own 10 transactions, prepare:

1. Accounting Equation

2. Journal

3. Ledger

4. Trail Balance

5. Financial statement