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(a) State any five issues dealt with in the regulatory framework of accounting. (b) Outline any four benefits multinational companies may derive from global harmonization

(a) State any five issues dealt with in the regulatory framework of accounting. (b) Outline any four benefits multinational companies may derive from global harmonization of accounting standards.

(c) In preparing financial statements, accountants follow certain fundamental assumptions and policies. List and explain two of these policies and assumptions under the following: (i) boundary rules (ii) measurement rules (iii) ethical rules

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