Question: QUESTION 3 [ 1 1 Marks ] A . List TWO ( 2 ) accounting assumption that underlie the Conceptual Framework and briefly explain the

QUESTION 3[11 Marks]
A. List TWO (2) accounting assumption that underlie the Conceptual Framework and
briefly explain the assumptions. (4)
B. Briefly explain each of these concepts. (7)
1. Predictive value
2. Conformity value
3. Materiality
4. Completeness
5. Neutrality
6. Free from error
7. Prudence

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