Your task is to a) produce your own example (a fictitious limited liability company) where you present a scenario where the following concepts are to be used in a relevant way. you should in your example the following concept: The precautionary principle Income statement Balance sheet Debt Current assets.

Remember to be clear in your discussion, so a clear structure is important. It is also important that you not only mention the concepts but in your scenario you need to explain and use the concepts in a relevant context. The concepts thus need to be defined and through the example put in a relevant context. b) explain with the help of the example in task a) how the balance sheet and income statement are affected by your example company repaying a loan.