Problem
Critique A Statement of Basic Accounting Postulates and Principles by a study group at the University of Illinois (it should be on reserve or otherwise made available to you). Your critique should cover, but not be restricted to, the following points:
a. How do the definitions of postulates, concepts, and principles differ?
b. Are the examples of postulates, principles, and concepts consistent with their definitions?
c. Does this set of postulates, principles, and concepts provide a legislative body with a useful frame work for deriving operating rules?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.