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December 2020

Basic REA Template

Tutorial week 8 Basic REA Template Using the above template attempt the following question Q. 1 Jason’s is a small ice-cream shop located near the local university’s baseball field. Jason’s serves walk-in customers only. The shop carries 26 flavors of ice cream. Customers can buy cones, sundaes, or shakes. When a customer pays for an

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a conceptual framework and accounting standards

Tutorial 3 1. What is the difference between a conceptual framework and accounting standards? 2. Outline the technical benefits of a conceptual framework. What problems could occur if accounting standards were set without a conceptual framework? 3. Distinguish between ‘cautious’ prudence and ‘asymmetrical’ prudence. Using an example, explain what is meant by prudence in the

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