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Positive Accounting Theory (PAT) and Agency Theory are theories that explain accounting practice. a) Discuss why they are referred to as descriptive or positive
Positive Accounting Theory (PAT) and Agency Theory are theories that explain accounting practice. a) Discuss why they are referred to as descriptive or positive theories of accounting. b) Identify three (3) underlying assumptions of PAT and Agency Theory. c) Identify two (2) criticisms of PAT and critically evaluate how they can improve accounting practice (5 marks) (9 marks)
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a Positive Accounting Theory PAT and Agency Theory are referred to as descriptive or positive theories of accounting because they aim to explain and predict the actual accounting practices that are ob...Get Instant Access to Expert-Tailored Solutions
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