Briefly describe the following concepts as they apply to the preparation of financial statements: a. Accounting entity

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Briefly describe the following concepts as they apply to the preparation of financial statements:

a. Accounting entity

b. Going concern

c. Accounting period

d. Objectivity and reliability

e. Monetary unit

f. Relevance g. Full disclosure h. Materiality i. Conservatism j. Consistency and comparability

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