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QUESTION FOUR [20] 4.1 List the five (5) elements of financial statements. (5) 4.2 Discuss the objectives of financial statements according to the accounting framework.

QUESTION FOUR [20]

4.1 List the five (5) elements of financial statements. (5)

4.2 Discuss the objectives of financial statements according to the accounting framework. (4)

4.3 List five (5) components of financial statements. (5)

4.4 Explain the two (2) key fundamental assumptions when preparing financial statements. (6)

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