1. What is the FASB conceptual framework project? Explain the benefit of this project to the practitioner.
2. Give examples of authoritative and nonauthoritative GAAP.
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Get Help Now!3. How can the promulgation of an accounting standard impact economic behavior? Discuss an example.
4. Discuss the advantages/disadvantages of rule-based versus principles-based accounting standards.
5. Explain the overload of accounting standards. How is the FASB attempting to overcome this issue?
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