Question No 3: (5+5=10 Marks) (Objectives of this case study) To understand the application of accounting principles in recording of financial transactions To analyze the treatment of adjustment entries in the preparation of final accounts Casel. The image given below shows one of the basic concept in accounting. Identify the concept related and answer the following questions in your own words. Close Your Books identify Transactions Financial Statements Record Journal Entries ACCOUNTING CYCLE Adjusted Trial Balance Post Ledger Entries Adjusted Entries Unadjusted Trial Balance Answer the following Questions (1 mark each) a. Which of the steps in accounting cycle cannot be done by computer software's? b. If you do posting to a wrong side of the correct account, how it will affect the business? c. What are the basic objectives of recording transactions in journal and posting to ledger? d. Which are the most important financial statements approved by IAS? e. Write any two functions of each of the stages in accounting cycle