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Which of the following is not a recognized approach to standard-setting? 1) A rules-based approach. 2) An asset/liability approach. 3) A principles-based approach. Question 2

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Which of the following is not a recognized approach to standard-setting? 1) A rules-based approach. 2) An asset/liability approach. 3) A principles-based approach. Question 2 (1 point) The assumption that an entity will continue to operate for the foreseeable future is called: 1) going concern. 2) comparability. 3) accrual basis

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