Also, mention which method organization should follow to reduce taxes?

$[5$ marks$]$

Q$-2-$ Under FOB and CIF shipping terms, who is responsible for freight charges, and how does the timing of risk transfer impact the accounting treatment for both the buyer and seller?

$[5$ marks$]$

Q$-3-$ Explain the going concern principle and discuss how the financial statements of a company would differ if it were no longer considered a going concern. What types of adjustments might be necessary in this situation?

$[5$ marks$]$

Q$-4-$ABC Logistics purchased a truck on January $1,2018,$ for $$80,000.$ The truck is being depreciated on a straight$-$line basis with an estimated residual value of $$5,000$ and an estimated useful life of $10$ years. ABC Logistics has a December $31$ year$-$end. Assume each of the following three independent situations: