Why does codification presume a democratic setting

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Question: 1. What is the relationship between public goods and free riders?

2. What is Pareto optimality? Why would adherence to it minimize accounting standard setting?

3. How do agency theory and the codify cational viewpoint differ in assumptions about the behavior of individuals?

4. Why does codification presume a democratic setting.

5. The social goals underlying accounting regulation are information symmetry and comparability. Why are these goals complementary?

Reference no: EM131529408

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