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Guidance for particular transaction

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Reference no: EM1310909

Please answer the following two questions. There are no minimum words.

1) How is the FASB ASC expected to improve the practice of accounting?

2) What should an accountant do if the guidance for a particular transaction or event is not specified within the FASB ASC?

Additional Requirements

Level of Detail: Only answer needed

Other Requirements: If you use a specific resource, please cite.

Reference no: EM1310909

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