Sentence 1: There was general agreement that (1) a combination of principle-based and rule-based standards would be needed and (2) principle-based accounting rules were not a panacea to solve financial reporting problems.

Sentence 2: The first part of the agreement was that standards of both principle and rule basis were needed.
Choose from: (1). yes; (2). it is not possible to tell; (3). no;
Is this second sentence entailed by the first sentence?
(1).