Which of the Following Is Not a Main Section of the Conceptual

question 53

Multiple Choice

Which of the following is not a main section of the conceptual framework of accounting?

• A) the objective of financial reporting
• B) the going concern assumption
• C) financial analysis
• D) the elements of financial statements

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Definitions:

Mean

To find the average value of a group of numbers, one adds together all the numbers and divides by how many numbers there are.

Skewed

Describes a distribution of data that is asymmetrical, where a tail of the distribution is longer or fatter on one side than on the other.

Overall Average

The mean value calculated from the sum of all elements in a dataset divided by the total number of elements.

Statistics

The practice or science of collecting and analyzing numerical data in large quantities, especially for inferring proportions in a whole from those in a representative sample.