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Explain the concepts of Materiality and Going-Concern. What influence do these concepts have on reporting within financial statements? Provide a brief overview of the following

Explain the concepts of Materiality and Going-Concern. What influence do these concepts have on reporting within financial statements? Provide a brief overview of the following financial statements and include their purpose and importance in financial reporting: Balance Sheet, Income Statement, Statement of Cash Flows, and Statement of Shareholders Equity.

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