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QUESTION ONE [20]1.1List the 5 elements of financial statements. (5)1.2Explain the term accrual basis of accounting. (3)1.3 Discuss the objectives of financial statements according tothe

QUESTION ONE [20]1.1List the 5 elements of financial statements. (5)1.2Explain the term accrual basis of accounting. (3)1.3 Discuss the objectives of financial statements according tothe accountin 2 answers

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