Why Does the IASB Believe That a Principles-Based Approach to Standard

Why does the IASB believe that a principles-based approach to standard setting is superior to a rules-based perspective?

A) Detailed prescriptions or rules encourage accountants to look for ways to circumvent the rules rather than trying to provide useful information.
B) Principles-based standard setting is less costly to undertake than rules-based standard formulation.
C) It is desirable to have all corporations in all countries using the same accounting practice.
D) A conceptual framework for standard setting has been demonstrated to encourage the greatest economic development.