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In: AccountingBasic Concepts and Conventions according to GAAP include theEntity Concept, the Reliability Concept, the Going...Basic Concepts and Conventions according to GAAP include theEntity Concept, the Reliability Concept, the Going ConcernConvention, the Materiality Convention, the Cost Benefit Criterion,and the Stable monetary unit Concept. Briefly describe or definetwo of these concepts in terms of how financial statements areprepared or used.