1. Discuss the basic objectives of financial statements? 2. What does the reliability and relevance concepts seek to achieve in relation to financial information? 3. Explain liability as a term used in financial information. 4. The measure of the wear and tear of a tangible fixed asset due to usage, technological improvement and passage of time relative to financial statement preparation is referred to as. 5. Identify the ways and means through which Accountants communicate their works and indicate what each line of communication entails. 6. The process of identifying, measuring and communicating economic information to various users is known as 7. What is the purpose of Cash Flow statement? 8. How do financial accounting and management accounting differ? 9. A certificate that acts as ownership in a corporation is known as