Question: Explain the free - market perspective. How does it relate to accounting regulation? Answer must acknowledge that there are various theories and perspectives on accounting

Explain the free

-

market perspective. How does it relate to accounting regulation?

Answer must acknowledge that there are various theories and perspectives on accounting regulation, some of which are in favour of and some are against accounting regulation.

Answers should identify that this perspective stems from the Adam smith's theory of a free economy determined by market conditions.

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