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PURPOSE The purpose of this assignment is to enhance learners’ understanding on the needs of accounting information and financial statement analysis and enhance learner’s skills to prepare the journal entry, trial balance and financial statements. REQUIREMENT You are required to answer Assignment 1, Assignment 2 and Assignment 3. You have to submit all assignments ONCE only in a single file. Assignment 1: There are four general qualitative characteristics of accounting information that underlie the preparation of financial statements of a business. Discuss the importance of these qualitative characteristics and explain how each characteristic is useful in interpretation of the financial statements.
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