FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Statement 1: The primary responsibility for the preparation and presentation of the financial statements of an entity is reposed in the management of the entity.
 
Statement 2: An entity can rectify inappropriate accounting policies either by disclosure of the accounting policies used or by notes or explanatory information
 
 
 
 
Both statements are true.
Both statements are false.
Only statement 1 is true.
Only statement 2 is true.
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