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(a) Describe the basic features of positive and normative theories of accounting. Provide examples of these theories. ( 3 marks) (b) Differentiate Positive Accounting Theory

(a) Describe the basic features of positive and normative theories of accounting. Provide examples of these theories. (3 marks)

(b) Differentiate Positive Accounting Theory (PAT) from other positive theories of accounting. (5 marks)

(c) Which theories have origin in the political economy theories? (2 marks)

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