Comment by xiphophilos:
R.C. Chuffe is not the composer of these titles, so I have removed that name from the entry above. Chuffe was the collector that owned and maybe produced this private recording. He could have done this in a record store (they offered such services) or even at home, if he owned the right kind of record player that allowed him to copy other records onto a blank or record them from the radio. "audiodisc" was a very common brand for these blank records.
"As Time Goes By" was written by Herman Hupfeld and recorded by Jacques Renard & his Orchestra in NYC October 17, 1931, with vocals by Frank Munn. It was released on Brunswick 6205, but sales were disappointing. After the film was included in the 1942 movie "Casablanca", Brunswick reissued it in 1943 because everyone suddenly wanted the song, and it couldn't be bought anywhere.
"Make Believe" was written by Jack Shilkret and M. K. Jerome and recorded, for example, by Paul Whiteman and his orchestra in 1921 (released on Victor 18742). In 1949, it became more of a hit, this time credited to Jack Shilkret and Benny Davis, and was recorded by Vaughn Monroe (RCA Victor 20-3531) and Sarah Vaughn (Columbia 38559).
Another song with the same title, by Jerome Kern and Oscar Hammerstein II, was part of the musical "Show Boat" and recorded, e.g., by Guy Lombardo And His Royal Canadians in 1946 (Decca 18789). Johnny Guarnieri (Majestic 1035)
Who knows what the actual name of the performer on this record is? Nelus Mie Yegat doesn't seem likely, but without an image, we will never know.
Comment by xiphophilos:
This is another silly valuation for a so-called "acetate." These audiodisc recordings are not test pressings or demos by then unknown, but now famous groups like the Beatles. Those would be collectible. These are simply home recordings, the predecessors of blank cassettes. They are literally worth nothing.
Here's some more reliable info about these home recordings, together with images of typiocal blank labels:
https://www.audioconservation.com/homemade-record-database/
This site dates your audiodisc label to the mid- to late 1940s, which seems correct.