Question 1: (5 marks) Professional accountants are expected to be objective when performing their duties How would you reconcile this expectation with central assumptions of Positive Accounting Theory, and are they mutually exclusive? Discuss creative accounting in the context of Positive Accounting Theory. Question 2: (6 marks) Critically discuss the following: Why is it important to know how intangible Assets are measured for financial reporting purposes? Why is it important to understand why research and development is to be accounted for? Why is important to know how goodwill is accounted for?