What is an â??accounting policyâ?? (2 marks)(b) Briefly explain three circumstances under which â??

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What is an “accounting policy”? (2 marks)(b) Briefly explain three circumstances under which “goodwill” can be recorded in a business firm’s books of account. (9 marks)(c) The following categories of people are recognized as users of the information contained in financial statements:Owners.Financial analystsLenders.For each of the above users of financial statements, identify the kind of information they may require, why they require it and the decisions they make from that information. (9 marks) (Total: 20 marks)

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