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Explain the accounting principle for john bank

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Reference no: EM132578808

Question 1: In each of the following scenarios explain the accounting principle or concept that would apply in order to rectify the situation:

(a) John Banks is a shareholder in ABC Ltd. John prides himself in using information from financial statements to assist him in his investing decisions. However, he is of the opinion that the information presented to him by ABC Ltd in its financial statements is not assisting him adequately in making the right investing decisions.

Reference no: EM132578808

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