Question: Q.6 Answer the following: I. What is the difference between Reserve and Surplus? II. What are fundamental accounting assumptions? III. Journal is the book

Q.6 Answer the following: I. What is the difference between Reserve and

Q.6 Answer the following: I. What is the difference between Reserve and Surplus? II. What are fundamental accounting assumptions? III. Journal is the book of original record. Explain IV. What is conservatism and why it becomes important aspect in Accounting?

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