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please do everything and label accounting alphabets. Quuestion 1: Write in detail, the two...

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Accounting

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please do everything and label accounting alphabets.

Quuestion 1: Write in detail, the two inventory system that companies adopt. You must illustrate each system with examples. Also list down the advantages and disadvantages of each system. (10 marks) Question 2: Explain briefly the purpose of preparing a bank reconciliation statement. Also explain the methodology involved in preparing the system. List down at least five reasons as to why there may exist a difference between the bank a/c and the bank statement. Also list the advantages of preparing a bank reconciliation system. (10 marks) (Note: You are expected to present it in your own words to exhibit your understanding) Assignment not to exceed 1500 words

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