Discuss the development of the modern corporation in the United States, through doing so, discuss the development of accounting standards and conceptual framework. Moreover, include in your answer the importance of the conceptual framework as a theory for financial accounting standards.

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
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Chapter3: Analyzing And Recording Transactions
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Discuss the development of the modern corporation in the United States, through doing so, discuss the development of accounting standards and conceptual framework. Moreover, include in your answer the importance of the conceptual framework as a theory for financial accounting standards. 

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