Exercise 1 The following Trading and Profit and Loss Account of ABC Ltd for the year ended 31-12-2019 is given below: Exercise 2 The Balance Sheet of ABC Auto Limited as on 31-12-2002 was as follows: Exercise 3 Explain what finance is and how it affects individuals and corporations' life. Then explain the financial services and managerial finance areas of finance. Exercise 4 Discuss the two key activities of the financial manager as related to the firm's balance sheet and explain the major differences between accounting and finance with respect to emphasis on cash flows and decision making.

Fig: 1

Fig: 2