Question: Question 2 Sba: Do you know something about the Statement Of Financial Position (SOFP)? Don: What's that? Sba: The SOFP is actually not a part

Question 2 Sba: "Do you know something about the Statement Of Financial Position (SOFP)? Don: "What's that?" Sba: The SOFP is actually not a part of the double entry system. Don: "Are you sure? But when I close the ledgers, its balances are all shown in the SOFP Sha: "Yup, I am pretty sure. Did you forget that the SOFP doesn't have closing balances?" Don: "Oh yeah.... Required: Based on the above conversation, discuss on the implications in which the Statement Of Financial Position (SOFP) not being part of the double entry system

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