Question: (a) Some financial statements are theoretically linked with each other. For instance, the statement of financial position and the statement of financial performance are linked.

(a) Some financial statements are theoretically linked with each other. For instance, the statement of financial position and the statement of financial performance are linked. Explain how these statements are linked to the accounting equation. Further, illustrate it with an example. [Limit 150 words] (4 marks) ANSWER a): (b) Accountants are responsible for the internal controls. Discuss this statement. [Limit 150 words] (3 marks) ANSWER b):

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