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    Question One: 10% 500 words Answers must be supported by case and statute references. You need to closely consider Chapters 8, 15, 16, 17 and 24 where relevant. Bill is 15 years old and his sister, Ji

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    Question One: 10% 500 words Answers must be supported by case and statute references. You need to closely consider Chapters 8, 15, 16, 17 and 24 where relevant. Bill is 15 years old and his sister, Jill, is 22 years old. On July 1 this year Bill and Jill buy a Sydney cbd cafe, Fine Food Cafe. In the contract the seller, Dodgy Pty. Ltd., dishonestly states that the weekly takings are $10,000 and have been at this level for 5 years. The contract also states that the costs of the business are estimated at $3000 per week. In the contract there is a term stating that the seller will not run a ...

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    Solution-1:
    Facts of the given case:
    Here in this case on Bill and Jill who are brother and sister have bought a food café in Sydney. The contract executed for this agreement; has been dishonestly drafted by the seller party; Dodgy Pty. Ltd containing provision that the weekly amount of taking are $ 10000 and estimated costs per week is $ 3000 and this will be for the next coming 5 years.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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