1. William Tembo sells his motor vehicle to Makasa Nyondo for K150, 000. However, after Makasa purchases the motor vehicle, he has to spend K10,000 to fix a problem in the engine which William was aware of but did not mentioned. If Makasa had known about this, he would not have purchased the vehicle. Which accounting concept does this scenario describe? 2. During an annual audit of the financial statements of Timely Functions Ltd, John Gee noticed that all the assets and liabilities were shown at their current disposal values. This was not so at the end of the previous financial year although it was noted that the company was having liquidity problems. Is Timely Functions expected to be in existence in the next 12 months? Why or why not? 3. Chatenga Ltd made sales of K210, 000 in 2019. Its cost of sales and operating expenses were K70,000 and K60, 000 respectively. The gross profit is recorded as K150,000 and Profit for the year as K80,000. According to the matching concept, is the calculation of gross profit and profit for the year correct? 4. Chola Manda is a sole trader and prepares her accounts to 31st March each year. During the year to 31st March 2020 she included cash received in May 2020 for sales made in February and also included fuel expenses that she decided to pay while she had cash on hand in March but which related to fuel for April 2020. Does the accruals concept allow this treatment