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Q1 When should a company in the extractive industry start accounting for its restoration costs? Q2 Describe the normative measurement theories proposed in the 1960s

Q1 When should a company in the extractive industry start accounting for its restoration costs?

Q2 Describe the normative measurement theories proposed in the 1960s and 1970s as alternatives to historical cost accounting. Discuss the effectiveness of these theories in improving accounting measurement.

Q3 Describe and evaluate the three theories of regulation. In your answer, explain the assumptions underlying the motivations of regulators under each of the perspectives.

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