Review the following statements and indicate if the statement is referring to a principles- based or a rule- based accounting standard. Statement:

“An accountant will use a particular accounting standard only if… 

Statement: "An accountant will use a particular accounting Principles-Based or Rules-Based standard only it... a.. . the length of a contract covers substantially all of the useful a Accounting Standard b. ..the number of new common shares a firm issues is equal to b. c, a corporation owns over 50% of the voting shares of an d....a corporation has the ability to control the operating and e. .. .it is more likely than not that a company's tax position will be e f. .. .the sum of the undiscounted future cash flows from the use f life of a plant asset 20% of the previously outstanding shares. affiliate company. financing activities of an affiliate company. sustained upon examination by the Internal Revenue Service. of a plant asset is less than its carrying value. c. d.