Question: Some critics argue that having different organizations establish accounting principles is wasteful and inefficient. Instead of mandating accounting standards, each company could voluntarily disclose the

Some critics argue that having different organizations establish accounting principles is wasteful and inefficient. Instead of mandating accounting standards, each company could voluntarily disclose the type of information it considered important. In addition, if an investor wanted additional information, the investor could contact the company and pay to receive the desired information.

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