1 May - 7 May In Class Assignment-2 L a. b. c. Identification of Asset Source, Use and Exchange transaction. Required: (5X1)-5 Name an asset source transaction that will not affect the cash statement. Name an asset source transaction that will affect the income statement. Name an asset use transaction that will not affect the income statement d. Name an asset exchange transaction that will not affect the cash statement e. Name an asset source transaction that will not affect the income statement 2. Define Accounting for Deferral. How is it different from Accounting for Accrual? Explain with an example. (2x1)=2 3. Explain how the combined effect of each of the following events and the associated adjusting entry will affect the amount of net income and the amount of cash flow from operating activities reported on the year end financial statements on 31 December. To answer your question, follow the format given below: (8X1)-8