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15. What is Pareto optimality (sometimes called Pareto efficiency)? Why would adher- ence to it minimize accounting standard setting? 16. How do agency theory and

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15. What is Pareto optimality (sometimes called Pareto efficiency)? Why would adher- ence to it minimize accounting standard setting? 16. How do agency theory and the codificational viewpoint differ in assumptions about the behavior of individuals? 17. Why does codification presume a democratic setting? Rec

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