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5 marksForms of Business Organisations

CAPE Accounting Unit 1 · 2007 · Paper 2 · Question 2(a)

Marlene Henkle Inc was incorporated on January 1, 2004, issuing 95 000 in 5 stated value ordinary shares, and is considering issuing bonds or converting into a public company to fund expansion.

Briefly outline TWO similarities and THREE differences between a public company and a private company.

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  1. 2(b)Prepare an income statement and a balance sheet for Marlene Henkle Inc (MHI) for the year ending December 31, 2006 using International Accounting Standards,…[30 marks]

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