Question one Accounting concepts and conventions are used in preparing financial statements of a business. a. Briefly explain any three of the following concepts: i. Going concern (2 marks) ii. Accruals (2 marks) iii. Consistency (2 marks) iv. Prudence (2 marks) b. Objectivity is important in analyzing and preparing financial accounting information. Explain the term "objectivity" giving an example as to how it might be applied. (6 marks) Question two Explain briefly what you understand by "historical cost concept". Give the advantages in using the cost method of valuation. (6 marks) Due on 17 March 2021c