Answer the following Questions 1. Why are companies required to report the diluted earnings per share figures in addition to the basic earnings per share figures? (4 marks) 2. The use of fair value to account for debt investments allows for more relevance of accounting figures because they would reflect the latest market assessment and opinion regarding these instruments. a. Do you agree with this statement? Explain why. (4 marks) b. What are the possible disadvantages of using the fair value accounting? (2 marks)