QUESTION: c) Indicate the effect of each of the following transactions on any or all of the three financial statements of a business: (5 MARKS) Statement of financial position Statement of financial performance
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Question 2 A local restaurant is noted for its fine food, as evidenced by the large number of customers. A customer was heard to remark that the secret of the restaurant’s success was its fine chef. Would you regard the chef as an asset of the business? If so, would you include the chef on the balance sheet of the business and at what value? Discuss. (2 MARK...