Which of the Following Is Not a Benefit Associated with the IASB

question 59

Multiple Choice

Which of the following is not a benefit associated with the IASB Conceptual Framework Project?

• A)A conceptual framework should increase financial statement users' understanding of and confidence in financial reporting.
• B)Practical problems should be more quickly solvable by reference to an existing conceptual framework.
• C)A coherent set of accounting standards and rules should result.
• D)Business entities will need far less assistance from accountants because the financial reporting process will be quite easy to apply.

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Definitions:

Expectancy Theory

A motivational theory that suggests an individual's behavior is determined by their expected outcomes or rewards of taking certain actions.

Expectancy

The probability that work effort will be followed by performance accomplishment.

Instrumentality

The perceived relationship between performance and outcomes, suggesting that an individual's effort will lead to a specific result.

Expectancy Theory

A motivational theory that suggests an individual's behavior is determined by their expectations of how much their effort will lead to desired performance and rewards.