What type of information is required for developing an accounting system in any corporation? ii. How rotation of employees leads towards better internal controls and including the competence of employees? iii. What is the need to generate the purchase order, invoice and receiving report? Who initiate the related document in above three situation? iv. Why the accounting department of a buying company generate the invoice approval form? v. Differentiate between error of omission and error of commission with example. vi. How working capital s different from other capital? vii. Which financial statement help in the judgment of financial position, level of sales and investment in stocks? 2 viii. Identify the Errors in the given below statement and identify the problem why it occur? a) Goods purchased from Mr. X, recorded in purchase book but no entry made in Mr. Xs account. b) There are circumstances when the effect of one transaction is neutralized by another error. When the effect of errors committed cancel out such errors are compensating errors. c) Debit the account that has been erroneously credited. Credit the account that should have been credited. d) A credit sale of goods for $78200 to Miss Sadia was debited to Miss Sana account.