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1. Briefly define the following concepts: (10 Marks; 2 marks each) a. The accrual basis of Accounting. b. The cash basis of accounting. c. Retained

1. Briefly define the following concepts: (10 Marks; 2 marks each) a. The accrual basis of Accounting. b. The cash basis of accounting. c. Retained earnings. d. Consolidated Financial Statements. e. Available-for-sale securities

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