Question: 1. [Conceptual basis for accounting standards] Explain why ac- counting standards might be different if they were established by: (i) Short-term lenders such as banks

1. [Conceptual basis for accounting standards] Explain why ac- counting standards might be different if they were established by: (i) Short-term lenders such as banks (ii) Long-term equity investors (iii) Tax authorities (iv) Corporate managers

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