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QUESTION 1 ( 1 0 marks ) ( 1 8 minutes ) The following questions are discussion type questions. The marks per questions are indicated
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The following questions are discussion type questions. The marks per questions are indicated in brackets at the end of each question. Please provide answers in full sentences.
a Briefly discuss the needs that lead to the establishment of companies as a form of entity.
b Name the main objectives of the IFRS International Financial Reporting Standards for an entitys financial statements
c What is the objective of generalpurpose financial reporting, according to the Conceptual Framework?
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