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Regarding the rules-based and principles-based standard setting approaches (1) Which approach leads to more comparable...

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Accounting

Regarding the rules-based and principles-based standard setting approaches (1) Which approach leads to more comparable results, and why? (2) Which approach leads to more verifiable results, and why? (3) If you were an auditor, under which approach would you likely be in a more comfortable position facing a client attempting aggressive accounting, and why?

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