Theories in accounting a. Describe positive accounting theory, including the assumptions upon which it is based and how is it used to negotiate contracts with various parties? (5 marks) b. What is legitimacy theory and the social contract? Explain how this theory is applied to accounting practice? (5 marks) In the answer box below, write the letter and your answer. e.g. a. Your answer For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)