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Do think would be easier to circumvent the requirements

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Question 1: It is often argued that the accounting standards of the FASB are rules-based, whereas the accounting standards issues by the IASB are principles-based. Rules-based standards by their nature can be quite complex, particularly if they seek to cover as many situations as possible. Do you think it would be easier to circumvent the requirements of rules-based or principles-based accounting standards?

Reference no: EM132869542

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