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a) Please provide how the full-cost method of accounting (in extractive industries) behave on the financial statements? [2 Marks] b) What are the consequences of

a) Please provide how the full-cost method of accounting (in extractive industries) behave on the financial statements? [2 Marks]

b) What are the consequences of the full-cost method of accounting for pre-production costs have on profit measurement (please explain with illustration)? [5 Marks]

c) Please provide one criticism of the full-cost method of accounting as per the Conceptual Framework. [3 Marks]

(Total 10 Marks)

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