a) Normative theories tell how the world should be. However, it is known that the world is not always as it should be. Therefore, another approach to theory is to observe what happens, known to be positive theories that describe realities through empirical observations. Critically examine this logic and explain whether normative theories should be rejected because the prescriptions it provides cannot be confirmed through empirical observations? (5 marks) (Word Limit: 300 words) b) Given below is two measurement methods:

Historical Cost Accounting Continuously Contemporary Accounting Choose ANY ONE measurement method from the above and provide the following: i. Meaning ii. Two strengths iii. Two weaknesses (5 marks) (Word Limit: 300 words)