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1. How does the accounting for Investments (such as marketable securities) violate the historical cost principle? Why is this considered appropriate?
2. Explain why it takes so long for a home buyer to reduce the principal amount of a 30-year mortgage.
3. Explain the following in relation to payroll:
a. why workers paychecks are often significantly less than the amount quoted in their contract when hired
b. who pays Social Security tax if someone is self-employed and who pays it if the person is employed by a company
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