Business, 25.03.2020 17:39 Yailynn598

A study by the SEC notes that imperfections exist when standards are established on either a rules-based or a principles-based basis only. The SEC recommends that standards should have all of the following characteristics except:

A. Enumerate exceptions from the standard.
B. Provide sufficient detail and structure so that the standard can be operationalized and applied on a consistent basis.
C. Avoid use of bright lines that allow structuring of financial transactions to achieve technical compliance while evading the intent of the standard.
D. Be based on a consistently applied conceptual framework.

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