Several accounting assumptions and qualitative characteristics are given below: Realisation Duality Cash basis Accrual basis Going concern Money measurement (a) State and explain the accounting principle applied in each of the following situations. i. Loh uses the double entry system of book-keeping when recording transactions in her ledgers. ii. Loh adjusted the charge for insurance in the income statement for an amount prepaid at the year-end. iii. Loh intends to trade for several years and values her premises at net book value, not expected sales value, in her statement of financial position. iv. Loh did not make any entry in her accounting records when a competitor reduced his prices even though it may affect her sales. v. Loh did not make any entry in her accounting records when a customer asked for goods to be put aside for him to collect sometime in the future. (b) Suggest two reasons why the employees of Loh G-Stik Enterprise would be interested in the financial statements of Loh G-Stik Enterprise. (c) Describe two differences between owner's equity and liabilities of Loh G-Stik Enterprise. (d) State how Loh G-Stik Enterprise may finance its expansion that requires RM100,000. Give one advantage and one disadvantage for the finance stated