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Explain developing a theory by induction

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Reference no: EM132611562

Question 1: What is the difference between a positive theory of accounting and a normative theory of accounting?

Question 2: What is the difference between developing a theory by induction and developing a theory by deduction?

Question 3: In the 1960s a number of accounting researchers concentrated on developing theories of accounting based on observing and documenting the behaviour of practising accounting. Do you think that such research is useful in improving the practice of financial accounting? Explain your answers.

Reference no: EM132611562

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