Question: 3. Explain the difference between a rules-based and a principles-based approach to accounting regulation. b. What are the advantages and disadvantages of each approach? c.

3. Explain the difference between a rules-based and a principles-based approach to accounting regulation. b. What are the advantages and disadvantages of each approach? c. What factors are responsible for this divide across the globe? 3. Explain the difference between a rules-based and a principles-based approach to accounting regulation. b. What are the advantages and disadvantages of each approach? c. What factors are responsible for this divide across the globe

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