Question: Question No 3: (5+5=10 Marks) (Objectives of this case study) To understand the application of accounting principles in recording of financial transactions To analyze the

 Question No 3: (5+5=10 Marks) (Objectives of this case study) To

Question No 3: (5+5=10 Marks) (Objectives of this case study) To understand the application of accounting principles in recording of financial transactions To analyze the treatment of adjustment entries in the preparation of final accounts Casel. The image given below shows one of the basic principles of accounting. Identify the concept related and answer the following questions in your own words. Objectivity Principle Accounting information is supported by independent, unbiased evidence. Answer the following Questions (1 mark each) 1. When a voucher is called as objective? b. Discuss any three examples to explain the accounting concept. c. How the concept is important for users of accounting? d List any three importance of the concept objectivity e. How the concept of objectivity affects the concept of materiality

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