Please respond to the following problems from Chapter 1 found in section 1.6:
- Problem 1.2: What mechanisms are in place to guide the identification, measurement, categorization, and communication of information to stakeholders and users? Discuss differences between users and stakeholders.
- Problem 1.4: What is the purpose of financial statements? Would you want to produce them even if they were not required, say, for entity tax reporting?
- Problem 1.11: How might the market value of a firm differ from its intrinsic value?
- Problem 1.16: Why are most engineers likely to have experience with deterministic risk and not probabilistic risk?
100 words for each question