Question: In a rules - based approach ( such as U . S . GAAP ) , compared to a principles - based approach ( such

In a rules-based approach (such as U.S. GAAP), compared to a principles-based approach (such as Canadian GAAP),
Group of answer choices
since it is more prescriptive, it may be easier to defend how to account for a particular item.
companies frequently do not interpret the rules literally.
the body of knowledge is smaller.
the importance of communicating the best information to users is emphasized.

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