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3 3 When preparing accounting information, practitioners are required to follow certain accounting assumptions and concepts. Using your knowledge & understanding briefly explain the following

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3 3 When preparing accounting information, practitioners are required to follow certain accounting assumptions and concepts. Using your knowledge & understanding briefly explain the following accounting assumptions & concepts: 1. Faithful representation II. Going concern III. Relevance iv. Reliability v. Business/Separate entity [15 marks]

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