Which of the following arguments regarding pure rules-based standards is not correct?
A)May not relate to the conceptual framework,but to more specific,prescriptive rules
B)Provide detailed,interpretive guidance to address the application for every possible transaction
C)Place much reliance on the professional judgment of the preparer
D)Result in acts of compliance as opposed to means of communicating information

Question

Quizplus · Accepted Answer

Pure rules-based standards are designed to minimize the need for professional judgment by providing detailed guidance for specific situations. This contrasts with principles-based standards, which rely more heavily on the professional judgment of the preparer.

Which of the Following Arguments Regarding Pure Rules-Based Standards Is