What Reasons Have Been Given by the Institute of Chartered

question 75

Multiple Choice

What reasons have been given by the Institute of Chartered Accountants in England and Wales (ICAEW) for following a principles-based approach in setting accounting standards?

• A)Lawmakers and standard setters cannot anticipate every situation.
• B)Accountancy profession should be about exercising judgment and integrity.
• C)The profession needs to attract people of high intellect.
• D)All of the above

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