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Explain completeness of financial statements and the related standard of adequate disclosure. Explain neutrality of financial statements . What is faithful representation? What are the

  1. Explain completeness of financial statements and the related standard of adequate disclosure.
  2. Explain neutrality of financial statements .
  3. What is faithful representation?
  4. What are the ingredients of faithful representation?
  5. Explain why materiality of information is relevant only to primary users.

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