Which of the following statements is TRUE about management's responsibility for financial reporting?

Select one:

a. Uniform accounting standards maximize managers ability to manipulate financial statement information

b. Rigid accounting rules may be dysfunctional so there is a need for principle-based accounting standards

c. IFRS does not allow for consistency in reporting between firms and over different time periods of the same firm

d. Incentives do not exist for management to distort accounting numbers in their favour

e. Applying accounting principles is the responsibility of management, who has inferior knowledge of a firm's business