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1. Why are the notes to the financial statements an integral part of the financial statements? Provide an example of what might be in the

1. Why are the notes to the financial statements an integral part of the financial statements? Provide an example of what might be in the notes.

2. What is included in the summary of significant accounting policies disclosure? Provide an example of what might be included.

3. How does the role of the FASB differ from that of the Securities and Exchange Commission with regard to the establishment of accounting standards?

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