Question: 1. Explain the statement, the central issue in variable costing is timing. 2. Explain the following and give more than two examples : Relevant Costs,

1. Explain the statement, "the central issue in variable costing is timing". 2. Explain the following and give more than two examples : Relevant Costs, Irrelevant Costs, and Opportunity Cost. 3. Give two examples of circumstances where impairment testing of exploration and evaluation assets would be required. 4. Distinguish between par and no-par share 5. Distinguish between ordinary and preference shares. 6. Describe the three managing bank risk Liquidity Risk Credit Risk Interest Rate Risk

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