Which of the Following Is True About Conceptual Frameworks

question 29

Multiple Choice

Which of the following is true about conceptual frameworks?

• A) They lead to decreased international compatibility of accounting standards.
• B) Communication between standard-setters and their constituents would be diminished.
• C) Smaller organisations may feel overburdened by reporting requirements.
• D) Standard-setters would be less accountable for their decisions.

---

Definitions:

Cheating

The act of being dishonest or unfair in order to gain an advantage, especially in contexts such as academic studies or sports.

Availability Heuristic

The availability heuristic is a cognitive bias wherein individuals judge the likelihood of events based on their ability to easily recall examples, rather than on objective information or statistical probability.

Homeowners' Policies

Insurance contracts that offer property and liability coverage to individuals owning homes, protecting against various perils.

Insurance Salespeople

Professionals who specialize in selling insurance policies to protect individuals and businesses from financial loss.