Question: a) Explain the difference between a balance sheet, cash flow statement and a budget? (4 marks) (4=C2) b) From the following items, please compute the

a) Explain the difference between a balance sheet, cash flow statement

a) Explain the difference between a balance sheet, cash flow statement and a budget? (4 marks) (4=C2) b) From the following items, please compute the net worth and net cash flow for Ali. Discuss the financial soundness of Ali. (6 marks) (68) Item RM 150 500 Cash and equivalent Internet Gold Investment Account Funding Society Car (Market value) Amanah Saham (ASB) Rakuten Car loan PTPTN Salary Interest Earned Allowances for parents Food expenditure Monthly car loan Entertainment Medicine 2,500 3,500 20,000 5,000 4,000 4,500 19,000 2,000 655 1,000 500 200 600 40

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