QUESTION $2(14$ marks$)($a$)$ A property lease includes a requirement that the premises are to be repainted every five years and the future cost is estimated at $$100,000.$ The lessee prefers to spread the cost over the five years by charging $$$20,000$ against profits each year. Thereby creating a provision of $$100,000$ in five years$$ time and affecting profits equally each year. Requirement: Was it correct for the lessee to provide for this cost? Explain your decision $(5$ marks$)($b$)$ A retail store has a policy of refunding purchases by dissatisfied customers, even though it is under no legal obligation. Its policy of making refunds is generally known. Requirements: Should a provision be made at year end