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When comparing U.S. GAAP and IFRS standards, which of the following is not correct? Group of answer choices IFRS is principles-based while U.S. GAAP is
When comparing U.S. GAAP and IFRS standards, which of the following is not correct?
Group of answer choices
IFRS is principles-based while U.S. GAAP is rules-based.
U.S. GAAP standards provide too many scope exceptions.
IFRS provides more detailed guidance than U.S. GAAP.
U.S. GAAP provides more detailed guidance than IFRS.
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