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EXPLAIN / DESCRIBE the following concepts using your OWN business example/scenario: Business entity Going concern Matching concept Materiality Your explanation/description should include the limitations of

EXPLAIN / DESCRIBE the following concepts using your OWN business example/scenario:

  • Business entity
  • Going concern
  • Matching concept
  • Materiality

Your explanation/description should include the limitations of each concept, instances where the concept may not be applicable and why.

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