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a) Using the above information you are to construct Fiona's Cash Flow Statement and then explain to her the importance of creating a surplus budget.
b) The Net Worth Statement enables you to assess your financial situation at a point in time, to take appropriate actions that will improve your financial situation over a period of time and to discover whether you are progressing towards your financial goals. Based on the above information, you are to construct Fiona's Net Worth Statement.
What is the amount of tax expense? Describe the controversy with respect to the recognition of deferred tax liabilities?
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