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  3. (i). going concern concept (ii). accruals concept

(i). Going concern concept (ii). Accruals concept (iii). Business entity concept (iv). Prudence concept (v)....

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Accounting

(i). Going concern concept (ii). Accruals concept (iii). Business entity concept (iv). Prudence concept (v). Historical cost concept

Required: Give or list two drawbacks of each of the above concept.

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