The dual aspect convention states that: Question 6 Not yet answered Marked out of 1.0 Select one: O a. Financial statements should be prepared on the assumption that a business will continue its operations for the foreseeable future P Flag question O b. Each transaction has two aspects both of which affect the statement of financial position OC. Assets and profits should be understated rather than overstated O d. Revenue should be matched with costs and expenses incurred in generating that reveune in the same accounting period Question 7 Not yet answered The following accounting information is available for Digby Ltd at 31st December 2015: Purchases 390,000 Sales 680,000 Marked out of 2.0 Inventory 1/1/15 120,000 P Flag question Inventory 31/12/15 145,000 What is the cost of sales for the year ended 31st December 2015? Enter your answer without using the thousand separator) e.g. 10000 not 10,000