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1-Statements prepared to know profit or loss and financial position of the business are called: Select one: O a. Trial Balance O b. Bank Reconciliation
1-Statements prepared to know profit or loss and financial position of the business are called: Select one:
O a. Trial Balance
O b. Bank Reconciliation Statement
Oc. Financial Statement O
d. All of these
2-Valuation of stock at lower of cost or market value is an example of Select one: O a. Full disclosure convention
O b. Materiality convention
c. Conservatism convention
O d. Consistency convention
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