Question: Ideally, both U.S. GAAP and IFRS should Multiple choice question. focus on the accounting rules instead of the accounting objective. contain bright-line rules. allow managers

Ideally, both U.S. GAAP and IFRS should Multiple choice question. focus on the accounting rules instead of the accounting objective. contain bright-line rules. allow managers a substantial amount of discretion in determining the appropriate accounting. provide enough guidance for consistent application

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