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Question 3 Explain: a. The difference between non-current assets and current assets. (4 marks) b. The purpose of the depreciation charge in the profit and

Question 3

Explain:

a. The difference between non-current assets and current assets. (4 marks)

b. The purpose of the depreciation charge in the profit and loss account. (4 Marks)

c. The accruals concept. (5 marks)

d. the main reason for preparing a statement of financial position. (2 marks

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