Task 1 - Answer the task with relevant examples and theories. During a weekly meeting the CEO of company made an statement that he heard from a friend that There is general agreement that, before it can be regarded as useful in satisfying the needs of various user groups, accounting information should satisfy certain criteria. You as a chief account of the company is required to explain the to the CEO the key characteristics of Accounting Information with clearly providing example(s) wherever queried for each characteristic. (10 Marks) Task 2 - Journalize the following transactions, Post them in the ledger and prepare a trial balance with the help of closing balance of various accounts. (10 Marks) 2019 January 1 2 3 Amount in RO 5,000 200 500 Safa is started a business with cash Goods purchased from Basma on credit Goods sold to Aisha N 4 5 15 17 21 24 Goods purchased from Samir for cash Wages paid Goods purchased from Samir Goods sold to Almir Paid rent for the business premise Cash paid to Basma Cash received from Almir and the account is closed 400 50 100 50 80 200 48 2 29 Required 1) Record the journal entries of the transactions 2) Post the transaction in General Ledger 3) Draw a trail balance from the balance of ledger accounts 4) Describe purpose and types of ledgers. (3 marks) (3 marks) (2 marks) (2 marks) Total 10 marks -End of Assignment