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BFA526 Accounting For Managers

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Question:

1. Who owns the company? In what ways do they gain ownership? 

2. Apart from shareholders, who else might be interested in the contents of financial accounting reports?

3. For each of the following items, classify them as either; asset, liability or equity.
Paid up capital
Bank loan
Provision for annual leave
Brand names and intellectual property
Accounts receivable
Prepaid insurance premiums
Deposit paid by a customer for work yet to be done
Retained profit
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