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Question #1: Discussion Questions: a. Why is the separate-entity assumption so important for statement of financial position reporting? ( 2 Marks) b. Explain why income

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Question \#1: Discussion Questions: a. Why is the separate-entity assumption so important for statement of financial position reporting? ( 2 Marks) b. Explain why income measurement is meaningless if the matching principle is violated. Give an example. ( 3 Marks)

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