1. "Many accounting prescriptions on how to account were developed to resolve problems as they arose., hence the theory underlying those prescriptions also developed in a largely unstructured manner. This has led to inconsistencies in practice". J. Godfrey, et el, 'Accounting Theory', 7th Ed. p.5. Discuss the quotation, including in your discussion at least three examples of inconsistencies in accounting practice.

2.Compare and contrast the normative approach to accounting theory with the positive approach.

3.'The positive and normative approaches to accounting theory are not incompatible.' Explain and discuss.