Which is a Disadvantage of principles-based standards: Select one: O a. They supply broad guidelines for managers O b. They are simple and less complex O c. The judgements and choice of decisions means the comparability of financial statements may be reduced O d. They allow managers to use professional judgement in assessing the substance of a transaction courses / Which of the following are the three essential criteria in the definition of an liability: 1. Past event. Future sacrifices of economic iv. benefits II. Future economic benefits. V. Ownership Control III. Present obligation VI. Select one: O a. I, III, VI O b. I, 111, VI. O c. II, IV, VI. O d. L. III. IV. search o G FS