Question

The proprietary theory, the entity theory, and the funds theory are three approaches to accounting for equities.

Required:
a. Describe briefly each of these theories.
b. State your reasons for emphasizing the application of one of these theories to each of the following:
i. Single proprietorship
ii. Partnership
iii. Financial institutions (banks)
iv. Consolidated statements v. Estate accounting



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  • CreatedDecember 17, 2014
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