The SEC's Advisory Committee on Improvements to Financial Reporting (CIFiR)

question 58

Multiple Choice

The SEC's Advisory Committee on Improvements to Financial Reporting (CIFiR) developed a framework for accounting judgments consisting of which components?

• A)A critical good faith thought process and reflective judgment
• B)A critical good faith thought process and documentation
• C)Documentation and reflective judgment
• D)Values and principles

---

Definitions:

Memory Acquisition

The process of obtaining new information and storing it in the brain.

Intellectual Record

Intellectual record typically refers to documented outcomes of intellectual activities, including writings, inventions, or academic achievements.

Working Memory

is a cognitive system with a limited capacity that is responsible for temporarily holding information available for processing.

Recall

The act of retrieving information or events from memory without having them present in the environment.