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Intermediate Accounting
Questions…
1. What is a conceptual framework? Why is a conceptual framework necessary in financial accounting?
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Order Paper Now2. What are the major objectives of financial reporting? Who uses financial reporting? What type of information will each user group need? Why?
3. Distinguish between cash-basis accounting and accrual basis accounting. Why is accrual-basis accounting acceptable for most businesses and the cash basis unacceptable.
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