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1. If company A is parent company of company B then which accounting concept is being followed while preparing consolidated financial statements? (a) Reliability (b)

1. If company A is parent company of company B then which accounting concept is being followed while preparing consolidated financial statements? (a) Reliability (b) Economic entity (c) Legal entity (d) Materiality

2.

What are the components of a master budget? (a) Sales budget (b) Material budget (c) Production budget (d) All of the above. (e) None of the above.

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