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Which of the following statements concerning GAAP and IFRS is true? OA. GAAP are concepts-based principles. OB. Both are concepts-based rules. C. IFRS are

Which of the following statements concerning GAAP and IFRS is true? OA. GAAP are concepts-based principles.

Which of the following statements concerning GAAP and IFRS is true? OA. GAAP are concepts-based principles. OB. Both are concepts-based rules. C. IFRS are rules-based principles. D. IFRS are concepts-based standards.

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