1: SECTION B: ANSWER ANY TWO QUESTIONS a. Discuss the most important underlying assumption for the preparation of the financial statements under "The Conceptual Framework". What should be done if this assumption is not followed? (5 marks) b. C. What do you understand by substance over form? Support your answer with an example. (5 marks) What are "Qualitative Characteristics" of useful financial information? Discuss the two "Fundamental Qualitative Characteristics" of information as per the "Conceptual Framework". (5 marks) Question 2