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1. Briefly discuss the steps in the Accounting Process with suitable examples? 2. Explain the Monetary unit assumption and Economic entity assumption with appropriate examples?

1. Briefly discuss the steps in the Accounting Process with suitable examples? 2. Explain the Monetary unit assumption and Economic entity assumption with appropriate examples? 3. Distinguish between Cash basis and Accrual basis accounting with suitable examples? 4. List down the Financial Statements and explain how the statements are interconnected? 5. Discuss the different types of Adjusting Entries with suitable examples?

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