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problem: Give illustrations of two internal users and four external user of accounting information.

Illustrate the reason each of such users would need the information.

problem:

a) Give a definition and an illustration for each of the following concepts. Your definition should be drawn from a book. (References should be provided)

•    Historical Cost
•    Monetary
•    Going Concern
•    Time Interval
•    Business Entity
•    Accrual

b) Describe the consequences of non-compliance of each of the accounting concepts.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M988

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