Identify whether the items below are characteristics of a pri Provides a clear discussion of the accounting objective related to the standard Contains detailed application guidance Contains numerous exceptions to the types of firms and industries that are covered Involves no bright-line tests Contains numerous bright-line tests Involves a significant amount of interpretation in application Involves few, if any, exceptions Provides insufficient guidance to implement the standard Would not rely on extensive use of professional judgment Results in inconsistencies between standards P R R P R
Identify whether the items below are characteristics of a pri Provides a clear discussion of the accounting objective related to the standard Contains detailed application guidance Contains numerous exceptions to the types of firms and industries that are covered Involves no bright-line tests Contains numerous bright-line tests Involves a significant amount of interpretation in application Involves few, if any, exceptions Provides insufficient guidance to implement the standard Would not rely on extensive use of professional judgment Results in inconsistencies between standards P R R P R
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:Identify whether the items below are characteristics of a principles-based (P) or rules-based (R) accounting system:
Provides a clear discussion of the accounting objective related to the standard
Contains detailed application guidance
Contains numerous exceptions to the types of firms and industries that are covered
Involves no bright-line tests
Contains numerous bright-line tests
Involves a significant amount of interpretation in application
Involves few, if any, exceptions
Provides insufficient guidance to implement the standard
Would not rely on extensive use of professional judgment
Results in inconsistencies between standards
P
R
R
P
R
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