Give answer to questions below for 5 points.

1.1 What is judgment and when is it used by accountants?

1.2 How can management create an impediment to the exercise of good judgment?

1.3 Does U.S. GAAP require that companies disclose information about the assumptions and estimates they make in their financial statements? Explain.

1.4 Describe the accounting cycle.

please provide different answer from other solution in chegg.