What distinguishes positive accounting theory from normative accounting theory? a) It explains and predicts actual accounting practices rather than prescribing rules b) It only focuses on what should be done c) It deals exclusively with tax accounting d) It ignores actual business practices
What distinguishes positive accounting theory from normative accounting theory? a) It explains and predicts actual accounting practices rather than prescribing rules b) It only focuses on what should be done c) It deals exclusively with tax accounting d) It ignores actual business practices
Chapter8: International Cases
Section8.5: Shari’a
Problem 3Q
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Transcribed Image Text:What distinguishes positive accounting theory from
normative accounting theory?
a) It explains and predicts actual accounting practices
rather than prescribing rules
b) It only focuses on what should be done
c) It deals exclusively with tax accounting
d) It ignores actual business practices
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