Hii please help me How does principle-based accounting differ from rule-basedsystems?a) Professional judgment guides decisions rather than strictrulesb) Strict numerical thresholds determine all treatmentsc) Detailed regulations cover every situationd) Standard formulas solve all problems

Explanation of Principle-Based Accounting: Principle-based accounting is a method that relies on…

Answered: How does principle-based accounting…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 10MC: Which of the following statements is incorrect? The practice of management accounting is fairly...

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How does principle-based accounting differ from rule-based systems? a) Professional judgment guides decisions rather than strict rules b) Strict numerical thresholds determine all treatments c) Detailed regulations cover every situation d) Standard formulas solve all problems