ACCOUNTING CONCEPTSFundamental AssumptionsFair presentationGoing concernAccrualsConsistency are two types of business entity that you can be asked to deal with in the examination:Sole traderLimited liability companyAdditionally, you should be aware of the follACCOUNTING CONCEPTSFundamental AssumptionsFair presentationGoing concernAccrualsConsistencyMateriality / AggregationFaithful representationSubstance over formNeutralityPrudenceCompletenessMateriality / AggregationFaithful representationSubstance over formNeutralityPrudenceCompleteness