- CFA Exams
- CFA Exam: Level I 2021
- Study Session 6. Financial Reporting and Analysis (1)
- Reading 20. Financial Reporting Standards
- Subject 6. Effective Financial Reporting
CFA Practice Question
Which of the following represents IASB's approach to setting new financial reporting standards?
B. Rules-based approach
C. A mix of both approaches, depending on the account
A. Principles-based approach
B. Rules-based approach
C. A mix of both approaches, depending on the account
Correct Answer: A
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