QUESTION $3[11$ Marks$]$

A$.$ List TWO $(2)$ accounting assumption that underlie the Conceptual Framework and

briefly explain the assumptions. $(4)$

B$.$ Briefly explain each of these concepts. $(7)$

$1.$ Predictive value

$2.$ Conformity value

$3.$ Materiality

$4.$ Completeness

$5.$ Neutrality

$6.$ Free from error

$7.$ Prudence