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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Definitions:

Renal Column

Cortical tissue located between the pyramids in the kidney, part of the kidney's supportive and structural system.

Renal Pyramid

Cone-shaped structures located in the kidneys, consisting of tubules that transport urine from the cortical, outer part of the kidney to the calyces and renal pelvis.

Hilum

The hilum is a depression or notch where structures such as blood vessels and nerves enter or exit an organ.

Renal Vein

A vein carrying filtered blood away from the kidney back towards the heart.