Statement: An accountant will use a particular accounting standard only if... Principles-based or Rules-based Accounting Standard a. ...the length of a contract covers substantially all of the useful life of a plant asset. b. ...the number of new common shares a firm issues is equal to 20% of the previously outstanding shares. c. ...a corporation owns over 50% of the voting shares of an affiliate company. d. ...a corporation has the ability to control the operating and financial activities of an affiliate company. e. ...it is more likely than not that a company's tax position will be sustained upon examination by the Internal Revenue Service. f. ...the sum of the undiscounted future cash flows from the use of a plant asset is less than its carrying value.