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Question 1: Accounting for extractive industries Based on the above topic, you are required to; a) Explain that accounting for extractive industries introduces specific changes.

image text in transcribed Question 1: Accounting for extractive industries Based on the above topic, you are required to; a) Explain that accounting for extractive industries introduces specific changes. List some of them. b) Describe the advantages and disadvantages of the Area of Interest of Method apart from the Full cost Method. c) Compare Area of Interest Method with Full Cost Method and identify their significances to a particular extractive industry. d) Discuss other issues that affect the reporting requirements of companies involved in the extractive industries with in Papua New Guinea

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