Section C

Do Question $4$ or Question $5$

Question $4$

$($a$)$ What is the role of the notes in the financial statements?

$(4$ marks$)$

$($b$)$ State the key issues which an entity should disclose in its financial statements. $(6$ marks$)$

Question $5$

$($a$)$ What information is contained in the identification note?

$(5$ marks$)$

$($b$)$ At the dinner honouring the graduates who had received their professional accounting qualification, the guest speaker said that they should be persons of integrity, objectivity, independent and exercise due care in executing their duties. What does the guest speaker mean by the terms integrity, objectivity, independent and due care?

$(4$ marks$)$

$($c$)$ Define the concept of ethics

$(1$ marks$)$