Question: (Rubrics: 1 mark for the correct answer - Total 1 mark) 2. On June 2020, IMO Service extended an offer of 15,000 OMR for building

(Rubrics: 1 mark for the correct answer - Total 1 mark)

(Rubrics: 1 mark for the correct answer - Total 1 mark) 2. On June 2020, IMO Service extended an offer of 15,000 OMR for building that had been priced for sale at 18,500 OMR. On September 3, IMO Service accepted the seller's counteroffer of 16,750 OMR. Describe how IMO should record the land. Explain (Rubrics: 1 mark for the correct answer - Total 1 mark) 3. Give two examples of each kind of business activity: (a) operating, (b) investing, and (c) financing. (Rubrics: 0.25 mark for the correct answer - Total 1.5 mark) 4. Instagram, Inc. is a public corporation and has been one of the world's most active social networking sites. Its revenue is generated primarily from advertising: (a) Identify two internal users of Instagram's accounting information. (b) Identify two external users of Instagram's accounting information. Write a question that each user might try to answer by using accounting information. (Rubrics: 1 mark for the correct answer - Total 1 mark)

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