Question: IFRS has a more principles based approach to standard setting, while U.S. GAAP is considered more rules based.Which approach do you believe produces the most

IFRS has a more "principles based" approach to standard setting, while U.S. GAAP is considered more "rules based."Which approach do you believe produces the most truthful financial statements?Use revenue recognition as an example and give key points on each side of the argument.

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