Fill in the blanks with the correct words or phrases from the word bank. rules-based approach ;broad-scale uniformity; FASB; principles-based approach; governing bodies 1GAAP is a _______________. 2 ____________design accounting standards. 3 Most European companies follow a _______________. 4 _________ is the organization that makes accounting rules in America. 5 Accounting standards providew ____________ among organizations.