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Question 1 Describe the difference between the principles-based and rules-based approach to the accounting standard-setting process. (10 Marks)

 

Question 1 Describe the difference between the principles-based and rules-based approach to the accounting standard-setting process. (10 Marks)

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Answer1 Rulesbased accounting can be defined as a list of detailed rules that are required to be fol... blur-text-image

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