(Answered) Essay questions1 what is the policy function performed by

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1. What is the policy function performed by bodies such as the FASB and the SEC? List and discuss the three sources of inputs to the policy-making function.

2.Discuss the difference between direct measurement and indirect measurement. Give examples of each in an accounting context.

3.List the four types of measurement scales in order of measurement rigor. Describe and give examples of each type of scale.

4.Give at least three example of how accounting numbers may affect social reality.

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