Volume XIII: Business and Private Organizations | Chapter 12a (1972): Law and Accounting in Business Associations
2nd November, 1966.
Detlev F. Vagts
3. Functions of rules. – The accounting requirements with which we are concerned ultimately rest upon association laws that may be divided into two general types. First, there are those that prescribe that a corporation may not (or must) take a given step if a certain financial situation exists. For example, a corpor…