What Is the Purpose of Developing a Conceptual Framework

question 6

Multiple Choice

What is the purpose of developing a conceptual framework?

• A) To provide a coherent structure to accounting practice which had developed in an ad hoc way.
• B) To guide standard-setters to develop standards based on the same concepts and principles, rather than in a piecemeal approach.
• C) To guide users where there is no accounting standard covering an issue.
• D) All of the given options are correct.

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Definitions:

Fair Treatment

The equitable and just manner in which individuals or groups are dealt with, ensuring fairness in opportunities, resources, and respect regardless of personal characteristics.

Civil Rights Organizers

Individuals or groups actively involved in the campaign for the legal and social equality of all people, particularly in the context of eliminating racial discrimination.

Felony Convictions

Legal judgments where an individual is found guilty of a felony, a serious crime traditionally punishable by death or incarceration for more than one year.

Civil Rights Movement

A historical socio-political movement in the United States, primarily during the 1950s and 1960s, aimed at ending racial discrimination and securing legal rights for African Americans.