a) Is it appropriate to reject a Since normative theory prescriptions could not be confirmed through empirical observations, is it appropriate to reject it?b)Why are financial accounting standards considered to be the outcome of a political process? Why is the process political? c) How is a decision by a government regulator that all companies must separately disclose, in their annual financial reports, the amount of expense incurred in relation to the training of employees and that the companies must also spend at 5% of their reported profits on training employees related to the Public Interest Theory? d) Explain the decision made by the government regulator in (c) above in terms of the Economic Interest Group Theory of regulation.