CFA Practice Question

There are 86 practice questions for this study session.

CFA Practice Question

In the past the FASB has been criticized for having a ______ approach to standards.
A. principles-based
B. rules-based
C. asset/liability
Explanation: It is moving toward an objectives-oriented approach.

User Contributed Comments 4

User Comment
SalimBouch it was not indicated in the LOS
Safiya921 I know it's rules-based now. So how can that be in the past?
devsingh27 Safiya921, the criticism itself was in the past, not the fact that they follow a rules-based approach.
choas69 SalimBouch the los dont contain everything its a sammury and actual information are in the books
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