Which of the Following Statements Is Incorrect

question 70

Multiple Choice

Which of the following statements is incorrect?

• A) Compliance with the conceptual framework is non-mandatory in general purpose financial statements.
• B) Compliance with Accounting Standards is mandatory in general purpose financial statements.
• C) Compliance with the conceptual framework is mandatory in general purpose financial statements.
• D) Accounting Standards are more specific than the conceptual framework.

---

Definitions:

Polygraph

A device that measures physiological responses, such as heart rate and sweat production, to assess truthfulness.

Electrocardiograph

A device used to record the electrical activity of the heart over a period of time.

Electroencephalograph

A machine used to record the electrical activity of the brain through electrodes attached to the scalp.

Myograph

An instrument that records the force and duration of muscle contractions.